A company purchased equipment for $12,000 with an estimated useful life of 5 years and no salvage value. Using the straight-line depreciation method, what is the accumulated depreciation after 3 years?
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A company purchased equipment for $12,000 with an estimated useful life of 5 years and no salvage value. Using the
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- A company purchased machinery for $50,000 with a useful life of 5 years and no salvage value.What is the annual depreciation using the straight-line method?A company purchased equipment for $50,000. It expects the equipment to have a useful life of 5 years and no salvage value. Using the straight-line method of depreciation, what is the annual depreciation expense?A company purchased a piece of equipment for $50,000 with an estimated useful life of 10 years and no salvage value. Calculate the annual depreciation expense using the straight-line depreciation method.
- What is the accumulated depreciation after 3 years?What is the amount of depreciation?Equipment with a cost of $477400 has an estimated salvage value of $55000 and an estimated life of 4 years or 8800 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used for 2200 hours?
- A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage value of $2,000 and a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,200 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life:Three years ago a machine was purchased for $5,000. Assuming a ten-year life and straight-line depreciation with a no salvage value, which of the following will appear on the income statement and balance sheet respectively after four years? a. depreciation expense of $2,000, accumulated depreciation of $2,000. b. depreciation expense of $500, accumulated depreciation of $2,000. c. accumulated depreciation of $2,000, depreciation expense of $500. d. accumulated depreciation of $500, depreciation expense of $2,000. e. depreciation expense of $1,500, accumulated depreciation of $500.Equipment costing $78000 with a salvage value of $18000 and an estimated life of 8 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 5 years and no change in the salvage value, what would be the depreciation expense for year 3?
- A company used straight-line depreciation for an item of equipment that cost $16,950, had a salvage value of $4, 200 and a six-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,695 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life:$3, 780. $6.485$1,275$4,200.$2,960.A piece of equipment costing $40,000 has a useful life of 5 years and no salvage value. Using the double-declining balance method, what is the depreciation expense for the first year?solve step by step : A company purchased equipment for $50,000. It expects the equipment to have a useful life of 5 years and no salvage value. Using the straight-line method of depreciation, what is the annual depreciation expense?