On november 1, 2016, love company places a new asset into service. the cost of the asset is $90,000 with an estimated 5-year life and $10,000 salvage value at the end of its useful life. what is the depreciation expense for 2017 if love company uses the straight-line method of depreciation?

$16,000

Explanation:

The computation of the depreciation expense under the straight-line method is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($90,000 - $10,000) ÷ (5 years)

= ($80,000) ÷ ( 5 years)  

= $16,000

We simply deduct the salvage value from the original cost and then divide it by its useful life. So, that the depreciation expense would come for the particular year

answer; descriptive statistics;

answer; whoever is willing and able to pay the price;