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What is the formula for calculating straight-line depreciation?

Practice Questions

Q1
What is the formula for calculating straight-line depreciation?
  1. Cost - Salvage Value / Useful Life
  2. Cost + Salvage Value / Useful Life
  3. Cost / Useful Life
  4. Cost - Useful Life

Questions & Step-by-Step Solutions

What is the formula for calculating straight-line depreciation?
  • 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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