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An asset cost $33,000. It has an expected useful life of 5 years and an expected salvage value of $3,000. Depreciation expense for the first year of the asset's life using the straight-line method is (Points : 3) $6,000. $6,600. $10,000. $13,200.
An asset cost $33,000. It has an expected useful life of 5 years and an expected salvage value of $3,000. Depreciation expense for the first year of the asset's life using the straight-line method is $6,000. (33,000-3,000)/5=6,000
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Asked 5/22/2013 7:02:30 AM
Updated 5/22/2013 7:17:03 AM
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An asset cost $33,000. It has an expected useful life of 5 years and an expected salvage value of $3,000. Depreciation expense for the first year of the asset's life using the straight-line method is $6,000.

(33,000-3,000)/5=6,000
Added 5/22/2013 7:17:03 AM
This answer has been confirmed as correct and helpful.
Confirmed by sujaysen [3/8/2014 12:03:07 PM]
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