The Ballard Company purchased
The Ballard Company purchased equipment for $90,000 on January1, 2013 that is expected to have a useful life of 4 years at whichtime it will have a salvage value of $10,000. If the company usesthe straight-line method of depreciation, what would the accountbalance of Accumulated Depreciation be at the end of 2015?
Answer:
Answer: |
Depreciation expense per Year -2013 = ( Cost (-) Salvage Value ) / Useful life = ( $ 90,000 (-) $ 10,000 ) / 4 Years = $ 20,000 |
Account balance of AccumulatedDepreciation be at the end of 2013 = $ 20,000 |
Account balance of AccumulatedDepreciation be at the end of 2014 = $ 20,000 + $ 20,000 = $ 40,000 |
Account balance of AccumulatedDepreciation be at the end of 2015 = $ 20,000 + $ 20,000 + $ 20,000 = $ 60,000 |
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