Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of eight years. Determine the
(a) depreciable cost,
(b) straight-line rate, and
(c) annual straight-line depreciation.

Question

Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of eight years. Determine the 
(a) depreciable cost, 
(b) straight-line rate, and 
(c) annual straight-line depreciation.

Quizplus · Accepted Answer

The Answer of Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of eight years. Determine the 
(a) depreciable cost, 
(b) straight-line rate, and 
(c) annual straight-line depreciation.

Computer Equipment Was Acquired at the Beginning of the Year