On average, cost of basic single coat of paint application on walls and ceiling in one 150 ft 2 bedroom vary from $125 to $165 excluding paint expenses and actual prices will be determined by a number of factors.
Subtract the salvage value, if any, to find the depreciable value. 3. Divide the depreciable value by the asset's life, or term of years that the asset will be kept and useful. 1  The result is the amount of annual depreciation for that asset. 2  It will be accrued each year over the life of the asset.
Account for disposals of plant assets. When plant assets are disposed of, depreciation should be recorded to the date of disposal. The cost is then removed from the asset account and the total recorded depreciation is removed from the accumulated depreciation account.lant assets are long-lived assets acquired for use in the business and not for resale to customers. The matching principle of accounting requires that we include in the plant and equipment accounts those costs that will provide services over a period of years.