Computer equipment was acquired at the beginning of the year at a cost of $63,500. It...

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Computer equipment was acquired at the beginning of the year at a cost of $63,500. It...

Computer equipment was acquired at the beginning of the year at a cost of $63,500. It had an estimated residual value of $3,500 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	$

business accounting

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Answer 1

Answer #1

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Working

A	Cost	$ 63,500.00
B	Residual Value	$ 3,500.00
C=A - B	Depreciable base	$ 60,000.00
D	Life [in years]	5
E=C/D	Annual SLM depreciation	$ 12,000.00
F=E/C	SLM Rate	20.00%

Requirements

[a] Depreciable cost = $ 60000
[b] Straight Line rate = 20%
[c] Annual Straight Line Depreciation = $ 12,000

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Answer 2

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