The value of an asset after it has become useless to the owner; the amount expected to be obtained when a fixed asset is disposed of at the end of its useful life. • Salvage value is used, under some depreciation methods, to determine the allowable tax deduction for depreciation. And under the UCC, when […]
quasi-rent. (often pl.) Law and economics. Value over and above one’s opportunity cost or next best alternative; the excess of an asset’s value over its salvage value. • In the economic theory of marriage, a quasi-rent is a spouse’s excess value of the marriage over the value of the next best option of not being
A method of calculating the annual depreciation allowance by multiplying the depreciable cost basis (cost minus salvage value) by a constantly decreasing fraction, which is represented by the remaining years of useful life at the beginning of each year divided by the total number of years of useful life at the time of acquisition. —
sum of the years’ digits depreciation method Read More »
A depreciation method that writes off the cost or other basis of the asset by deducting the expected salvage value from the initial cost of the capital asset, and dividing the difference by the asset’s estimated useful life.
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A method by which the cost of a depreciable asset, minus salvage value, is allocated to the accounting periods benefited based on output (as miles, hours, number of times used, and the like).
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intangible drilling cost. Oil & gas. An expense that is incident to and necessary for drilling and completing an oil or gas well and that has no salvage value. • Intangible drilling costs may be deducted in the year they are incurred rather than capitalized and depreciated. 26 USCA § 612.
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reward, n. 1. Something of value, usu. money, given in return for some service or achievement, such as recovering property or providing information that leads to the capture of a criminal. [Cases: Rewards 0. 5.] 2. SALVAGE (3). — reward, vb.