production facility at the beginning of the year The machine's useful life is estimate to be 20 years, or 390,000 units of product, with a $7,000 salvage value. During its second year, the machine produces 15.600 units of product. Determine the machines' second year depreciation under the straight-line method. Multiple Choice O $4,300 $5,000 $4,650 $1,440 $1,720

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Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.