Question

Peavey enterprises purchased a depreciable asset for $22,000 on april 1, year 1. the asset will be depreciated using the straight-line method over its four-year useful life. assuming the asset's salvage value is $2,000, peavey enterprises should recognize depreciation expense in year 2 in the amount of

Answer 1

$annual \: depreciation = (22000 - 2000) \div 4 = 5000$
year 2 will have the same depreciation