Homework Answers
a. Annual depreciation = (100000-10000)/5 = $18000
Balance in Accumulated Depreciation on January 1, 2018 = $18000*2 = $36,000
b. Carrying value of assets on January 1, 2018 = 100000 - 36000 = $64,000
Depreciation expense for the year ending December 31, 2018 = (64000 - 5000) / 6 = $9,833
c. Balance in Accumulated Depreciation on December 31, 2018 = $36,000 + 9833 = $45,833
d.
| Date | Accounts | Debit | Credit |
| December 31, 2018 | Depreciation expense | $9,833 | |
| Accumulated Depreciation | $9,833 | ||
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