Russin Tax Planning Service bought computer equipment for $22,000 on January 1,2016.It has an estimated useful life of four years and zero residual value.Russin uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month.Calculate the amount of Depreciation Expense for the period,January 1,2016 through September 30,2016,for this equipment.(Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

Question

Quizplus · Accepted Answer

Straight-line depreciation = (Cost - Residual value)/ Useful life
Straight-line depreciation = ($22,000 - 0)/ 4 years = $5,500 per year
 11ea86d6_8261_9d7b_92b6_c98cd7790cc2_TB2804_00 Depreciation Expense from January to
 11ea86d6_8261_c48c_92b6_51d1dfa9c12b_TB2804_00

Russin Tax Planning Service Bought Computer Equipment for $22,000 on January