Watson Tax Planning Service has the following plant assets: Communications Equipment: Cost,$7,200 with useful life of eight years; Furniture: Cost,$24,000 with useful life of 12 years; and Computer: Cost,$13,200 with useful life of four years.(Assume residual value of all the assets is zero.)Watson's monthly depreciation expense calculated using the straight-line method is ________.(Round any intermediate calculations and your final answer to the nearest cent.)
A) $275.00
B) $166.67
C) $75.00
D) $516.67

Question

Quizplus · Accepted Answer

D) Straight-line depreciation = (Cost - Residual value) / Useful life
Straight-line depreciation for:
Communications 11ea8873_d44f_fd55_bb89_3981a4e7c963_TB5026_00 11ea8873_d450_2466_bb89_eb166a8a6d77_TB5026_00 11ea8873_d450_2467_bb89_97dc311f15eb_TB5026_00 11ea8873_d450_2468_bb89_217f358af13a_TB5026_00

Watson Tax Planning Service Has the Following Plant Assets: Communications