Computer equipment was acquired at the beginning of the year at a cost of $53,600. It had an estimated residual value of...
Computer equipment was acquired at the beginning of the year at a cost of $53,600. It had an estimated residual value of $4,600 and an estimated useful life of five years. Determine the (a) depreciable cost, (b) straight-line rate, and (c) annual straight-line depreciation.
| a. Depreciable cost | $ | |
| b. Straight-line rate | % | |
| c. Annual straight-line depreciation | $ |
Homework Answers
Answer-a)- Depreciable cost = $49000.
b)- Straight- line rate =20%.
c)- Annual straight-line depreciation = $9800.
Explanation- Straight line Method-Depreciation Expense Annual
= Cost of asset- Salvage value of asset/No. of useful life (years)
=($53600-$4600)/5 years
=$49000/5 years
= $9800
Depreciable cost = Cost of asset- Salvage value of asset
= $53600-$4600
= $49000
Straight- line rate = (Annual depreciation/ Depreciable cost)*100
= ($9900/$49000)*100
= 20%
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