Included are entries from a journal kept by a reporter for the Oquawka Spectator newspaper who traveled with one of the wagon trains, which apparently both departed from Oquawka on the 25th of March, 1850.
The double declining balance depreciation method is an accelerated depreciation method that counts twice as much of the assetâs book value each year as an expense compared to straight-line depreciation. The formula is:
The balance in the account Accumulated Depreciation will be reduced when an asset that has been depreciated is removed. When an asset is sold, the depreciation expense is first recorded up to the date of the sale. Then the asset and its accumulated depreciation is removed and the proceeds are recorded.