Question

Depreciation Calcuations Woods ABO Fall 2019 Name: Jol moldrup Class: _10.30 Depreciation Components and Calculations Homework Situation 1 - Full Year Ownership: on January 1, 2018 Eli's Copies purchased a copier system with a cost of $65,000 and a salvage value estimated at 53,000. It was expected that the copier would last four years, over which time it would produce 6,500,000 copies Provide the following values for this asset, under the straight-line method of deprecation, in the table below Copier Purchase 2018 2019 2020 2021 Historical Cost $65,000 Salvage Value $3,000 Depreciation Expense $15,500 $15,500 Accumulated Depreciation Net Book Value (Carrying Value) $49,500

Answer 1

Particulars Historical Cost Salvage Value Depreciation Expense Accumulated Depreciation Net Book Value 2018 $65,000 $3,000 $15,500 $15,500 $49,500 2019 2020 $65,000 $65,000 $3,000 $3,000 $15,500 $15,500 $31,000 $46,500 $34,000 $18,500 2021 $65,000 $3,000 $15,500 $62,000 $3,000