A company purchased medical equipment for $100,000 on January 1,2015.The company determined that the yearly depreciation expense is $10,000.What will be the ending balance in the Accumulated Depreciation-Medical Equipment at December 31,2017?

Question

Quizplus · Accepted Answer

The equipment is depreciated at $10,000 per year. From January 1, 2015, to December 31, 2017, there are 3 years, so the accumulated depreciation is 3 years x $10,000/year = $30,000.

A Company Purchased Medical Equipment for $100,000 on January 1,2015