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On September 1, 2017, West Buy purchased an asset for $9,000, with a $1,500 estimated salvage value, and a 4-year useful life. How much is the 2017 depreciation expense using the straight-line method

Sagot :

abiolataiwo2015

The amount of  2017 depreciation expense using the straight-line method is $625.

Using this formula

Depreciation expense=(Purchase price-Salvage value0/Useful life×4/12

Where:

Purchase price=$9,000

Salvage value =$1,500

Use useful life=4 years

Portion of a year expensed=4/12

Let plug in the formula

Depreciation expense=($9,000 - $1,500)/4 × 4/12

Depreciation expense=$7,500/4× 4/12

Depreciation expense= $1,875× 4/12

Depreciation expense= $625

Inconclusion the amount of  2017 depreciation expense using the straight-line method is $625.

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