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NARA [144]
3 years ago
12

Taco Hut purchased equipment on May 1, 2018, for $15,000. Residual value at the end of an estimated 8-year service life is expec

ted to be $4,000.
Calculate depreciation expense using the straight-line method for 2018 and 2019, assuming a December 31 year-end. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.)
Business
1 answer:
densk [106]3 years ago
7 0

Answer:

2018: 8 months

Depreciation= $916,67

2019: full year

Depreciation= $1375

Explanation:

Giving the following information:

Taco Hut purchased equipment on May 1, 2018.

Price:  $15,000.

Residual value: $4,000

Useful life: 8 year

We need to calculate the depreciation for 2018 and 2019 using straight-line method:

Depreciation= (purchase price- residual value)/useful life

Depreciation= (15000-4000)/8= $1375

2018: 8 months

Depreciation=(1375/12)*8= 916,67

2019: full year

Depreciation= $1375

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<em>I did that question</em>

<em>Hope I Helped</em>

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Answer:

Results are below.

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Elden [556K]

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Expectancy theory

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Answer:

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