A computer equipment was acquired at the beginning of the year at a cost of $56,000 with an estimated residual value of $5,000, and an estimated useful life of 5 years.Determine the second year's depreciation expense using the straight-line method.
A) $10,200
B) $22,400
C) $11,200
D) $12,200

Question

Quizplus · Accepted Answer

Depreciation expense = (Cost - Residual value) / Useful life= (56,000 - 5,000) / 5= 51,000 / 5= $10,200

A Computer Equipment Was Acquired at the Beginning of the Year