Using the straight-line method of depreciation

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Reference no: EM13823305

Equipment acquired on January 4, 2011, at a cost of $298,100, has an estimated useful life of nine years and an estimated residual value of $38,900.

a. What was the annual amount of depreciation for the years 2011, 2012, and 2013, using the straight-line method of depreciation?

Year Depreciation Expense

2011 $

2012 $

2013 $

b. What was the book value of the equipment on January 1, 2014?

Reference no: EM13823305

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