Company purchased equipment on January 1, 2017 for $ 600 comma 000. The residual value is $ 60 comma 000 and the estimated useful life is 10 years. What is the Depreciation Expense for the year ending December 31, 2017, if the company uses the straight-line method?

$54,000

Explanation:

For computation of Depreciation Expense for the year ending 31 Dec first we need to compute the depreciation under straight line method for the year which is shown below:-

Depreciation under straight line method for the year = (Cost - Residual value) ÷ Estimated useful life

= ($600,000 - $60,000) ÷ 10

= $540,000 ÷ 10

= $54,000

Depreciation expenses = (Depreciation under straight line method for the year ÷ 12) × From Jan 1 to Dec 31

= ($54,000 ÷ 12) × 12

= $4,500 × 12

= $54,000

answer: life insurance

explanation:

3rd the reason why is because of management and leadership