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Volgvan
3 years ago
8

On January​ 1, 2018, Jordan Company acquired a machine for​ $1,090,000. The estimated useful life of the asset is five years. Re

sidual value at the end of five years is estimated to be​ $60,000. Calculate the depreciation expense per year using the​ straight-line method.
Business
1 answer:
anyanavicka [17]3 years ago
3 0

Answer:

$206000.

Explanation:

Given: Asset purchase value = \$ 1090000

          Residual value after five years= \$ 60000

          Estimated useful life of asset= five years.

Now, we will calculate depreciation per year using straight line method.

Depreciation= \frac{(purchased\ value\ of\ asset - residual\ value)}{estimated\ useful\ life\ of\ asset}

⇒ Depreciation = \frac{(1090000 - 60000)}{5} = \frac{1030000}{5}

∴ Depreciation expense per year = \$ 20600

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