Answers
Answer -
Step - (1) - Information Given -
Equipment cost = $562500.
Estimated useful life = 5 years.
Estimated residual value = $48400.
.
Step - (2) - Calculation of Annual depreciation expense, Accumulated depreciation and the Book value of the Equipment at the end of each year -
Straight-line depreciation = (Cost of Equipment - Residual value) / Estimated useful life
= ($562500 - $48400) / 5 years
= $102820
| Year | Depreciation Expense ($) | Accumulated Depreciation, End of Year ($) | Book Value, End of Year ($) |
| 1 | 102820 | 102820 | 459680 [562500 - 102820] |
| 2 | 102820 | 205640 [102820 + 102820] | 356860 [459680 - 102820] |
| 3 | 102820 | 308460 [205640 + 102820] | 254040 [356860 - 102820] |
| 4 | 102820 | 411280 [308460 + 102820] | 151220 [254040 - 102820] |
| 5 | 102820 | 514100 [411280 + 102820] | 48400 [151220 - 102820] |
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