Depreciation, book value, gain&loss

Depreciation, book value, gain&loss - $100,000.00...

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Calculate depreciation expense, Book Value, gain/loss Examples (from Ch 9) Depreciation Expense: straight-line method Formula: Cost-Salvage Value = Depreciation Cost Depreciation cost/ useful life= Depreciation Expense Example: Cost $13,000.00 To record on journal entry: Expected Salvage value $1,000.00 Estimated useful life (in years) $5.00 Depreciation Expense 2,400 Estimated useful life (in miles)
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Unformatted text preview: $100,000.00 Accumulated Depreciation 2,400 $13,000.00 $1,000.00 12000 $12,000.00 $5.00 $2,400.00 Book Value Formula: Cost-Accumulated Depreciation expense Gain/loss Steps: Cost-Accumulated depreciation (book value) less proceeds from sales Ex: 60,000 -49,000= 11,000 Ex: 60,000-49,000= 11,000 11,000-16,000=5,000 gain 11,000-9,000=2,000 loss...
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