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Alex_Xolod [135]
2 years ago
6

On April 1, Cyclone's Co. purchases a trencher for $314,000. The machine is expected to last five years and have a salvage value

of $57,000. Exercise 8-11 Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method.
Business
1 answer:
djverab [1.8K]2 years ago
3 0

Answer:

Annual depreciation= $51,400

Explanation:

Giving the following information:

Purchase price= $314,000

Salvage value= $57,000

Useful life= 5 years

<u>To calculate the depreciation expense under the straight-line method, we need to use the following formula:</u>

<u />

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (314,000 - 57,000) / 5

Annual depreciation= $51,400

<u />

<u>The depreciation expense is the same every year.</u>

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