Question

fenton inc. purchased equipment for $5,000 with a $500 residual value and a five-year useful life. match the amount to the respective term/year using straight-line depreciation. $900 $900 drop zone empty. $1,800 $1,800 drop zone empty. $2,300 $2,300 drop zone empty. $500

Answer 1

There at end of Year 5, the total depreciation was $2,500 ($500 each year over the five years).

How does depreciation work?

A tangible item's cost can be spread out over the period of its service life using the accounting approach of depreciation. The amount of an income statement has indeed been used is shown through depreciation. It helps business to purchase assets over a predetermined length of time and generate income from those assets.

What are the two distinct categories of depreciation?

The four basic depreciation techniques are straight line, twofold decreasing, years' digits total, and production units. Each technique is used to various business and asset categories. Vehicles office structures.

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