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How much depreciation expense should be charged each year

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Reference no: EM132736648

Problem 1: Goodfellow's Floral Shop purchased a new refrigerator at a cost of $10,000 with an expected useful life of 5 years and an expected salvage value of $0 (no salvage value). Assuming Goodfellow's is using straight line depreciation, how much depreciation expense should be charged each year?

Option 1: $10,000
Option 2: $5,000
Option 3: $2,000
Option 4: $1,500

Reference no: EM132736648

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