Homework Answers
Annual depreciation=(Cost-Salvage value)/Useful Life
=(88,000-8400)/8=$9950
Hence depreciation for:
2017=9950*(3/12)=$2488(Approx)(Period from October 1,2017-December 31,2017)
2018=9950
| 2017 | 2018 | |
| Depreciation expense under straight line method | 2488 | 9950 |
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