# QUESTION 1 Please help me with my homework assignment. This is question 1 and 2. Thank... QUESTION 1 Please help me with my homework assignment. This is question 1 and 2. Thank you and have a good day. 2020 An asset has an initial cost of \$65,000 and an estimated salvage value of \$5,000 after 12 years. The amount of accumulated depreciation after 5 years if straight-line depreciation is used is closest to: a. \$25,000 Cb. \$15,000 C. \$12,500 C d. \$37,500 QUESTION 2 An asset with a life of 7 years was purchased 4 years ago at a cost of \$10,000. It now has a book value of \$5,200 based on straight-line depreciation. The asset's expected salvage value is closest to: Ca. \$1,200 C b. \$1,000 C C. \$1,600 Cd. \$2,000

Question:1

The Answer is A. \$ 25,000

Working:

 Equipment Cost \$               65,000 Estimated Salvage Value \$                 5,000 Useful Life 12 Years Accumulated Depreciation after 5 Years [(65000-5000)/12Years*5Years] \$               25,000

So, Remaining options are incorrect.
Question:2

The Answer is C. \$ 1,600

Working:

 Equipment Cost \$               10,000 Book Value After 4 Years \$                 5,200 Useful Life 7 Years If Salvage Value is \$                 1,600 Book Value After 4 Years[10000-((10000-1600)/7Years*4Years)] \$                 5,200

So, Remaining options are incorrect.

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