Which of the following estimates are required when calculating depreciation expense?
1) Depreciation rate
2) Useful life
3) Expected maintenance costs
4) Salvage value

Question

Quizplus · Accepted Answer

Depreciation expense calculation typically requires estimates of the asset's useful life, its salvage value at the end of that life, and the depreciation rate (which may be determined by the method of depreciation used). Expected maintenance costs are not directly used in calculating depreciation expense.

Which of the Following Estimates Are Required When Calculating Depreciation