Equipment having a cost of $10,000 was acquired on July 1, 2010. The equipment i
ID: 2386293 • Letter: E
Question
Equipment having a cost of $10,000 was acquired on July 1, 2010. The equipment is expected to have no salvage value at the end of its useful life of 10 years. The company's accounting year ends on December 31 of each year.Q1. The depreciation expense to be reported on the company's income statement for the year 2010 will be $__________.
Q2. The deprecation expense for the year 2011 will be $_____________.
Q3. The accumulated depreciation at December 31, 2012 will be $______________.
Q4. If the equipment is fully depreciation in the year 2020, but is used in the year 2021, the depreciation expense for the year 2021 will be $___________.
Explanation / Answer
Q1. $500 Q2. $1,000 Q3. $2,500 Q4. 0
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