Solution-What was the annual amount of depreciation for the

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Disposal of Fixed Asset

Equipment acquired on January 4, 2009, at a cost of $425,000, has an estimated useful life of nine years and an estimated residual value of $65,000.

a. What was the annual amount of depreciation for the years 2009, 2010, and 2011, using the straight-line method of depreciation?

Year Depreciation Expense

2009 $
2010 $
2011 $

b. What was the book value of the equipment on January 1, 2012??$

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