Jacques Ltd purchased a computer for $4500 on 1 July 2015.It had an estimated useful life of three years.It was depreciated using the straight-line method.The financial year ends on 30 June.
-What was the accumulated depreciation at 30 June 2017?

Question

Quizplus · Accepted Answer

The yearly depreciation expense will be $4500/3 = $1500. 
For the financial year ending on 30 June 2016, the accumulated depreciation will be $1500 (for the first year). 
For the financial year ending on 30 June 2017, the accumulated depreciation will be $1500 + $1500 = $3000. 
Therefore, the correct answer is C.

Jacques Ltd Purchased a Computer for $4500 on 1 July