Lima enterprises purchased a depreciable asset for 27500 on April 1 , year 1. The asset will be depreciated using the st...
Lima enterprises purchased a depreciable asset for 27500 on April 1 , year 1. The asset will be depreciated using the striaght line method over it 4 year useful life. Assuming the assets salvage value is 3100, Lima enterprises should recognize depreciation expense in year 2 in the amount of:
A. 23,383.33 B. 5083.33 c. 6100.00 d. 24,400.00 e. 6875.00
Homework Answers
c. 6100.00
Depreciation per year = (Cost - Salvage value) / Useful life
Depreciation per year = ($27,500 - $3,100) / 4
Depreciation per year = $6,100
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