heridan Company purchased a depreciable asset for $1140000. The estimated salvage value is $59000, and the estimated useful life is 10000 hours. Sheridan used the asset for 1200 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset?

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A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and tear,…

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A: Depreciation base of the asset = Cost - Salvage value

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A: DEPRECIATION EXPENSEDepreciation means gradual decrease in value of assets due to normal wear and…

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A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/5 years) x 2 = 40%

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A: Because of usage, wear and tear, or obsolescence, the monetary worth of an object will depreciate…

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A: DEPRECIATION UNDER STRAIGHT LINE METHOD = (COST OF ASSET - SALVAGE VALUE) / USEFUL LIFE OF ASSET…

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A: Deprecation expense is an account  system used to allocate the cost of a palpable asset over its…

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A: Depreciation is reduction in value of asset due to wear and tear, technological advantage and other…

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A: To calculate the annual depreciation expense using the straight-line depreciation method, you need…

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A: The depreciation expense is charged on the fixed assets as a reduction in the value of the fixed…

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A: To calculate the annual depreciation expense using the straight-line depreciation method, we need to…

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A: The depreciation is the decrease in value of an asset with the usage each and every year.

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A:

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A:

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A: The straight-line method is one of the most common techniques for allocating the cost of an asset…

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A: Step 1  Solution:  Introduction:  Depreciation means a reduction in the value of an asset due to…

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A: Depreciation: It refers to a gradual decrease in the fixed asset’s value because of obsolescence,…

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A: Depreciation expense is the amount of expense which is to be charged by the entity on the…