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Nitella [24]
3 years ago
11

On January 1, a machine with a useful life of five years and a residual value of $5,000 was purchased for $25,000. What is the d

epreciation expense for year 2 under straight-line depreciation?a. $5,000b. $15,000c. $4,000d. $12,000
Business
1 answer:
emmasim [6.3K]3 years ago
7 0

Answer:

c. $4,000

Explanation:

The computation of the depreciation expense for year 2 under straight-line method is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($25,000 - $5,000) ÷ (5 years)

= ($20,000) ÷ (5 years)  

= $4,000

In this method, the depreciation is same for all the remaining useful life i.e $4,000 is charged for remaining three years

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