Use straight line (SL) depreciation to determine a. annual depreciation charge (5 points) and b. annual book values for the life of the asset having the price of $1,900,000, depreciable life of 10 years, and the salvage value of $600,000. (10 points)

(a) $130,000

Explanation:

Given that,

Previous year book value = $1,900,000

Depreciable life = 10 years

Salvage value = $600,000

(a) Annual depreciation charge:

= (Book value - Salvage value) ÷ Depreciable life

= (1,900,000 - 600,000) ÷  10

= $130,000

(b) Annual book value:

= Previous year book value - Current year depreciation amount

For year 0,

Annual book value = $1,900,000

For year 1,

Annual book value:

= Previous year book value - Current year depreciation amount

= $1,900,000 - $130,000

= $1,770,000

For year 2,

Annual book value:

= Previous year book value - Current year depreciation amount

= $1,770,000 - $130,000

= $1,640,000

For year 3,

Annual book value:

= Previous year book value - Current year depreciation amount

= $1,640,000 - $130,000

= $1,510,000

For year 4,

Annual book value:

= Previous year book value - Current year depreciation amount

= $1,510,000 - $130,000

= $1,380,000

For year 5,

Annual book value:

= Previous year book value - Current year depreciation amount

= $1,380,000 - $130,000

= $1,250,000

For year 6,

Annual book value:

= Previous year book value - Current year depreciation amount

= $1,250,000 - $130,000

= $1,120,000

For year 7,

Annual book value:

= Previous year book value - Current year depreciation amount

= $1,120,000 - $130,000

= $990,000

For year 8,

Annual book value:

= Previous year book value - Current year depreciation amount

= $990,000 - $130,000

= $860,000

For year 9,

Annual book value:

= Previous year book value - Current year depreciation amount

= $860,000 - $130,000

= $730,000

For year 10,

Annual book value:

= Previous year book value - Current year depreciation amount

= $730,000 - $130,000

= $600,000

you get a crown by getting lots of points and you get points by answering other peoples questions

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