on january 1, year 1, the starshina company paid 25,000 for a copier with an estimated...

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on january 1, year 1, the starshina company paid 25,000 for a copier with an estimated...

on january 1, year 1, the starshina company paid 25,000 for a copier with an estimated useful life if 4 years and an estimated residual value of 5,000. the company uses the straight line method. what is the amount of depreciation expense for year 2

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Answer 1

Answer #1

Amount of depreciation expense for year 2 = (Cost - Residual value) / Estimated useful life

Amount of depreciation expense for year 2 = ($25,000 - $5,000) / 4

Amount of depreciation expense for year 2 = $5,000

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Answer 2

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on january 1, year 1, the starshina company paid 25,000 for a copier with an estimated...

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