The vehicle cost 23000 and its estimated salvage value is, Ask an Expert

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When originally purchased, a vehicle had an estimated useful life of 8 years. The vehicle cost $23,000 and its estimated salvage value is $1,500. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage value. The depreciation expense in year 5 equals:

Answer

1. $ 5,375.00.

2. $ 2,687.50.

3. $ 5,543.75.

4. $10,750.00.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9441431

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