A piece of equipment is purchased for $18,000.00 and has a salvage value of $2,000.00.The estimated life is then years and the method of depreciation is straight-line. Shipping costs total $620.00 and installation costs are $590.00. The book value at the end of year 10 is....A.)$1,110.00

B)$2,110.00

C)$3,110.00

D)$2,000.04

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Answers

Answer 1

Answer: Hello one of my favvvvv sons!
This is Accounting math, so congrats at being in college level math!
Now let's solve this! :)

The Book Value of an asset is the asset's cost minus the assets accumulated depreciation.
Asset's costs:
           Purchase of equipment = $18,000
           Shipping costs = $620.00
           Installation costs = $590.00

Total = $19,210.00

Assets accumulated depreciation:

depreciation per year=(Cost of equipment-Salvage Value) ÷ Estimated Useful Life = (18000 - 2000) ÷ 10 = $ 1,600 per anum (per year)

           Cost: $18,000
           Salvage Value: $ 2,000
           Estimated Useful Life: 10 years

With this data, we can make the following chart provided below.
Looking at the chart we can conclude that hence, in the 10th year, the accumulated depreciation value is $ 16,000.

So the Book Value at the end of year 10 is...
an asset is the assets cost - the assets accumulated depreciation.
$19,210.00 - $16,000 = $ 3,210

Hope I helped! If you have any other questions or would like further explanation feel free to Pm me! Have a great day!!! :)

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Answers

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