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Ludmilka [50]
3 years ago
15

Mather Company purchased equipment on January 1, 2018 at a total invoice cost of $336,000; additional costs of $6,000 for freigh

t and $30,000 for installation were incurred. The equipment has an estimated salvage value of $12,000 and an estimated useful life of five years. The amount of accumulated depreciation at December 31, 2019 if the straight-line method of depreciation is used is
Business
1 answer:
mestny [16]3 years ago
7 0

Answer:

$144,000

Explanation:

The computation of accumulated depreciation is shown below:-

Total cost = Invoice cost + Freight + Installation

= $336,000 + $6,000 + $30,000

= $372,000

Depreciation as per SLM = (Total Cost - Salvage Value) ÷ Estimated useful life

= (372,000 - 12,000) ÷ 5

= $72,000

The amount of accumulated depreciation (after 2 years) = Depreciation as per SLM × Years

= 72,000 × 2

= $144,000

So, for computing the accumulated depreciation we simply applied the above formula.

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