On January 1,2018,Orangewood Industries bought a new cash register for $7,500.Orangewood plans to use the cash register for 4 years and then sell it for $600.If Orangewood uses straight-line depreciation,depreciation expense for the year ended December 31,2018 equals:

Question

Quizplus · Accepted Answer

Depreciation expense = (Cost − Residual value)× (1 ÷ Useful life)
= ($7,500 − $600)× (1 ÷ 4)= $1,725

On January 1,2018,Orangewood Industries Bought a New Cash Register for $7,500.Orangewood