Balance Day Adjustments (Definition Recap)

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Across
  1. 5. ____ cost is the original purchase price of a non current asset
  2. 6. Carrying____ is the unallocated cost of the non current asset plus residual value
  3. 8. ____ value is the value of a non current asset that is yet to be consumed plus any residual value
  4. 9. ____ depreciation is the value of a non current asset that has been consumed over its useful life so far
  5. 10. A type of expense when cash has been paid but the expense has yet to be consumed
  6. 11. Depreciation reduces the value of ______ (2 words) assetson the Balance Sheet for a reporting period
Down
  1. 1. _____value is calculated as the Historical cost less the Non-current asset's Residual Value
  2. 2. The allocation of the cost of a non current asset over its useful life
  3. 3. Depreciation decreases ____ Profit reported in the Income Statement
  4. 4. A type of expense which has been incurred but not yet paid
  5. 7. A stock ____ occurs when a physical stocktake reveals that the quantity of stock on hand is less than the accounting records indicate.