Chapter 17, Problem 2AT

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Calculate the total cost, total depreciation, and annual depreciation for the following assets by using the straight-line method.

Estimated |
||||||

Cost |
ShippingCharges |
SetupCharges |
TotalCost |
SalvageValue |
Useful Life (years) |
Depreciation Total Annual |

$16,900 $310 0 _______$1,900 4 ___ _______

To determine

**To calculate:** The total cost, total depreciation and annual depreciation of the asset when the asset purchased cost is

Explanation

**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

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