A company purchased office equipment for $130,000 on March 1, 2021. The estimated service life is four years with a $40,000 residual value. The company records partial-year depreciation based on the number of months in service. The balance of accumulated depreciation for the year ended December 31, 2022, using straight-line depreciation, is:
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Ответ:
$22,500
Explanation:
Data provided as per the question
Value of machinery = $130,000
Residual value = 40,000
Life of the machinery = 4 years
The computation of balance of accumulated depreciation is shown below:-
= Value of machinery - Residual value ÷ Life of machinery
= $130,000 - $40,000 ÷ 4
= $22,500
Here, we are considering full depreciation as we can see there are 12 months from March 1, 2021 to December 31, 2022.
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