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Depreciation using the revised amounts and straight line

Computer equipment was acquired at the beginning of the year at a cost of $56,000 that has an estimated residual value of $3,000 and an estimated useful life of 5 years. Determine the 2nd year's depreciation using straight-line depreciation.
$11,200
$22,400
$10,600
$13,600

An asset was purchased for $60,000 and originally estimated to have a useful life of 10 years with a residual value of $3,000. After two years of straight line depreciation, it was determined that the remaining useful life of the asset was only 2 years with a residual value of $2,000. Calculate this year's depreciation using the revised amounts and straight line method.
$22,800
$11,400
$23,300
$24,000

Solution Preview

Computer equipment was acquired at the beginning of the year at a cost of $56,000 that has an estimated residual value of $3,000 and an estimated useful life of 5 years. Determine the 2nd year's depreciation using straight-line depreciation.

Depreciation= (Cost-Residual value)/Useful ...

Solution Summary

This provides the steps to calculate the depreciation using the revised amounts and straight line method

$2.19