1. Straight-line depreciation Equipment acquired at the beginning of the year at a cost of $340,000...

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Answer 1

Answer #1

Cost of Equipment		340000
Less: Salvage value		45000
Depreciable cost		295000
Divide: life of equipment		10
Annual Depreciation		29500

Rate of Dep: Annual depreciation/ Original cost *100
	29500 /340000 *100 = 8.68%

Depreciable cost		295000
Rate of depreciation:		8.68%
Annual Depreciation expense		29500

Answer 2

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