Homework Answers
| Net Book Value on December 31, 2018 | $36,000 | |||||
| Straight Line method | ||||||
| Years | Asset Cost | Depreciable Cost | Depreciable Rate | Depreciation Expense | Accumulated Depreciation | Book Value |
| Jan.1, 2015 | $60,000 | $60,000 | ||||
| Dec.31, 2015 | $60,000 | 10% | $6,000 | $6,000 | $54,000 | |
| Dec.31, 2016 | $60,000 | 10% | $6,000 | $12,000 | $48,000 | |
| Dec.31, 2017 | $60,000 | 10% | $6,000 | $18,000 | $42,000 | |
| Dec.31, 2018 | $60,000 | 10% | $6,000 | $24,000 | $36,000 | |
| Depreciation rate = ($60,000 - $0)/10 years = $6,000 | ||||||
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