Money provided by a third party to help students meet the costs of attending college. It can be provided by various agencies inc
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Answer:
The depreciation expenses will be "950 and 3610". A further explanation is given below.
Explanation:
The given values are:
Cost,
= $21,500
Salvage value,
= $2,500
Asset's total life,
= $100,000
Now,
The Depreciation rate will be:
=
On putting the values, we get
=
=
=
So,
For the year 2021, the depreciation expense will be:
=
=
=
For the year 2022, the depreciation expense will be:
=
=
=