Calculate the total cost, total depreciation, and annual depreciation for the following assets by using the straight-line method.
Shipping | Setup | Total | Salvage | Estimated Useful Life | Depreciation | |
Cost | Charges | Charges | Cost | Value | (years) | Total Annual |
$5,600 $210 $54 ____ $600 6
To calculate: The total cost, total depreciation and annual depreciation of the asset when the asset purchased cost is
Given Information:
The cost of the asset is
Formula used:
The steps to calculate annual depreciation by straight line method are as follows:
Step 1: Calculate the total cost.
Step 2: Calculate the total amount of depreciation by subtracting salvage value from the total cost by using the formula,
Step 3: Calculate the annual depreciation by dividing estimated useful life from the total amount of depreciation given by the formula,
Calculation:
Consider the provided cost of asset is
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
Calculus: Early Transcendental Functions
Elementary Technical Mathematics
Elementary Geometry For College Students, 7e
Probability and Statistics for Engineering and the Sciences
Essentials Of Statistics
Calculus (MindTap Course List)
Calculus: An Applied Approach (MindTap Course List)
Multivariable Calculus
Precalculus: Mathematics for Calculus (Standalone Book)
Calculus: Early Transcendentals
Single Variable Calculus: Early Transcendentals, Volume I
Mathematical Excursions (MindTap Course List)
Finite Mathematics and Applied Calculus (MindTap Course List)
Statistics for The Behavioral Sciences (MindTap Course List)
Mathematical Applications for the Management, Life, and Social Sciences
Essentials of Statistics for The Behavioral Sciences (MindTap Course List)
Single Variable Calculus
Applied Calculus
Understanding Basic Statistics
Intermediate Algebra
Elements Of Modern Algebra
Calculus of a Single Variable
Single Variable Calculus: Early Transcendentals
Trigonometry (MindTap Course List)
Calculus: Early Transcendental Functions (MindTap Course List)
Finite Mathematics for the Managerial, Life, and Social Sciences
Study Guide for Stewart's Multivariable Calculus, 8th
Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th
Elementary Geometry for College Students
Introduction To Statistics And Data Analysis
Calculus (MindTap Course List)
Multivariable Calculus
College Algebra (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Research Methods for the Behavioral Sciences (MindTap Course List)
Mathematics For Machine Technology
Statistics for Business & Economics, Revised (MindTap Course List)
Research Methods for the Behavioral Sciences (MindTap Course List)