Straight-line depreciation Schedule:
Depreciation for the Year | ||||||||
Date |
Asset Cost |
Depreciable Cost |
Depreciation Rate |
Depreciation Expense |
Accumulated Depreciation |
Book Value |
||
1-2-2016 | $15,000 | |||||||
12-31-2016 | $12,000 | / | 0.25 | = | $3,000 | $3,000 | $12,000 | |
12-31-2017 | $12,000 | / | 0.25 | = | $3,000 | $6,000 | $9,000 | |
12-31-2018 | $12,000 | / | 0.25 | = | $3,000 | $9,000 | $6,000 | |
12-31-2019 | $12,000 | / | 0.25 | = | $3,000 | $12,000 | $3,000 |
Explanation:
Depreciable cost = Asset Cost - Salvage value = $15,000 -$3,000 = $12,000
Book value = Asset cost - Accumulated depreciation
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