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What is the formula for calculating straight-line depreciation?
What is the formula for calculating straight-line depreciation?
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Practice Questions
1 question
Q1
What is the formula for calculating straight-line depreciation?
Cost - Salvage Value / Useful Life
Cost + Salvage Value / Useful Life
Cost / Useful Life
Cost - Useful Life
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The straight-line depreciation formula is (Cost - Salvage Value) / Useful Life.
Questions & Step-by-step Solutions
1 item
Q
Q: What is the formula for calculating straight-line depreciation?
Solution:
The straight-line depreciation formula is (Cost - Salvage Value) / Useful Life.
Steps: 5
Show Steps
Step 1: Identify the initial cost of the asset. This is how much you paid for it.
Step 2: Determine the salvage value. This is the estimated value of the asset at the end of its useful life.
Step 3: Find out the useful life of the asset. This is how long you expect to use it, usually measured in years.
Step 4: Subtract the salvage value from the initial cost. This gives you the total amount that will be depreciated.
Step 5: Divide the result from Step 4 by the useful life. This gives you the annual straight-line depreciation expense.
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