8. Equipment was purchased for $15,000.
Freight charges amounted to
$700 and there was a cost of $2,000 for building a foundation and
installing the equipment. It is estimated that the equipment will
have a $3,000 salvage value at the end of its 5-year useful life.
Depreciation expense each year using the straight-line method will
9. Equipment with a cost of $160,000 has an estimated salvage value of
$10,000 and an estimated life of 4 years or 12,000 hours. It is to
be depreciated by the straight-line method. What is the amount of
depreciation for the first full year, during which the equipment was
used 3,300 hours?
10. A truck was purchased for $15,000 and it was estimated to have a
$3,000 salvage value at the end of its useful life. Monthly
depreciation expense of $250 was recorded using the straight-line
method. The annual depreciation rate is
11. A company purchased factory equipment on April 1, 2000, for $48,000.
It is estimated that the equipment will have a $6,000 salvage value
at the end of its 10-year useful life. Using the straight-line
method of depreciation, the amount to be recorded as depreciation
expense at December 31, 2000, is