After 4 years, a machine had an accumulated depreciation of $38,000. The machine had an anticipated life of 8 years and a residual value of $5,000. If the current book value after 4 years is $28,000 and the machine has only 2 years of useable life left, how much will be depreciated in Year 5 and in Year 6 using the straight-line method of depreciation, and assuming the residual value is still $5,000?

Question

Quizplus · Accepted Answer

The Answer of After 4 years, a machine had an accumulated depreciation of $38,000. The machine had an anticipated life of 8 years and a residual value of $5,000. If the current book value after 4 years is $28,000 and the machine has only 2 years of useable life left, how much will be depreciated in Year 5 and in Year 6 using the straight-line method of depreciation, and assuming the residual value is still $5,000?

After 4 Years, a Machine Had an Accumulated Depreciation of $38,000