On June 1, 20--, a depreciable asset was acquired for $5,460. The asset has an estimated useful life of five years (60 months) a

Question

2 years ago

6

On June 1, 20--, a depreciable asset was acquired for $5,460. The asset has an estimated useful life of five years (60 months) a

nd no salvage value. Using the straight-line depreciation method, calculate the book value as of December 31, 20--. If necessary, round your answer to two decimal places.

Business

1 answer:

kirill [66] · Answer 1 · 2022-08-28T09:52:59+03:00

kirill [66]2 years ago

5 0

Answer:

$4823

Explanation:

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

5460 / 5 = 1092

7/12 X 1092 = 637

5460 - 637 = 4823