Doorglam paid $91,000 for office furniture. The furniture is depreciated using the straight-line method and has an estimated service life of 7 years and no residual value. After three years of use, the accumulated depreciation of the furniture will be:

Question

Quizplus · Accepted Answer

The annual depreciation expense is $91,000 / 7 = $13,000. After three years, the accumulated depreciation is 3 * $13,000 = $39,000.

Doorglam Paid $91,000 for Office Furniture