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adjusting entries for sraight line deprecaition
a company purchase a copy machine for 50000.00 it has a life of 5 years
with a salvage value of 5ooo.00, the machine was purchased on April 1 2003. I need to know what adjusting entrys for depreciation would be for 2003 through 2005.. using the straight-line method... |
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First you take the purchase price less the salvage value. This is your depreciable base. Next you take this amount and divide by the number of years of depreciation. This is the amount of depreciation per year. The first year is a partial year so you will need to calculate the depreication for 9 months. Take the depreciation amount for one year * 9/12 months to get your depreciation amount for the first year. |
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