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liubo4ka [24]
3 years ago
10

At the beginning of Year 1, Mitchell Company purchased office equipment for $15,000. The machine has an estimated residual value

of $1,000 and an estimated service life of 5 years. If Mitchell uses straight-line depreciation, it will make which of the following entries related to depreciation at the end of Year 1?
Business
1 answer:
QveST [7]3 years ago
3 0

Answer:

Debit the depreciation expense for $2800

Explanation:

Straight line depreciation expense = (cost of asset - Salvage value) / useful life

($15,000 - $1,000) / 5 = $2,800

I hope my answer helps you

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