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 using straight-line depreciation.
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= 10,200

Computer Equipment Was Acquired at the Beginning of the Year