   # Using the information from EA7, calculate depreciation using the straight-line method. FindFindarrow_forward

### Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685

#### Solutions

Chapter
Section FindFindarrow_forward

### Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 11, Problem 8EA
Textbook Problem
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## Using the information from EA7, calculate depreciation using the straight-line method.

To determine

Introduction:

Depreciation expense refers to the amount which leads to reduction in an asset beacuse of its use. It is deducted from gross profit.

To calculate :

Depreciation using straight-line method.

### Explanation of Solution

Formula to calculate depreciation using straight-line method:

Depreciation=(CostRealizable ValueNumber of Useful Life)

Substitute $900,000 for cost,$15,000 for realizable value, and 3 years for number of useful life in the above formula

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