Answered

Anniston purchased the equipment for $22,000 on 12/1/16. The equipment has a residual value of $1,000 and is expected to last a total of 10 years. Anniston last recorded depreciation of equipment of this value on 12/31/17.

Answer :

Straigth Line Depreciation has the formula shown below:

Annual Depn Exp = (Cost of Asset - Residual Value)/ Useful Life

So, this would be:

(22000 - 1000)/10 = $2100 per year

To get monthly, you divide this by 12,

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