Ask Question
31 October, 20:05

Concord Corporation purchased a depreciable asset for $175700. The estimated salvage value is $14200, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset

+2
Answers (1)
  1. 31 October, 23:07
    0
    the depreciation base of this asset is $161,500

    Explanation:

    Depreciation Base is the Value that is divided y the useful life to obtain the depreciation charge of an asset.

    Depreciation Charge under straight line method is calculated as:

    Depreciation = (Cost - Salvage Value) / Number of Useful Life

    Therefore depreciation base of this asset is $175700 - $14200 = $161,500
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Concord Corporation purchased a depreciable asset for $175700. The estimated salvage value is $14200, and the estimated useful life is 10 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers