Homework Answers
ANSWER:
Straight-line method of depreciation:
| Year | Annual depreciation expense | Accumulated depreciation | Book value |
|---|---|---|---|
|
Start 2017 2018 2019 2020 |
- $4125 $4125 $4125 $4125 |
- $4125 $8250 $12375 $16500 |
$18000 $13875 $9750 $5625 $1500 |
NOTE:
Depreciation per annum = (initial cost - residual value)/useful life
= ($18000 - $1500)/4
= $4125
book value = historical cost - accumulated depreciation
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