Using straight line depreciation,determine the amount of depreciation expense and the amount of accumulated depreciation that would appear on the December 31,2012 financial statements.
A) $2,960/$2,960.
B) $2,608/$7,824.
C) $2,960/$8,880.
D) $2,600/$7,800.

Question

Quizplus · Accepted Answer

The straight-line depreciation method divides the cost of the asset minus its salvage value by the useful life of the asset. The accumulated depreciation is the total depreciation expense accumulated over the years. The correct choice reflects these calculations.

Using Straight Line Depreciation,determine the Amount of Depreciation Expense and the Amount