Acompany purchased a new delivery van at a cost of $45,000 on july 1. the delivery van is estimated to have a useful life of 6 years and a salvage value of $3,000. the company uses the straight-line method of depreciation. how much depreciation expense will be recorded for the van during the first year ended december 31?

Depreciation expense = $3500

The van's purchase price = $45,000

It's salvage value = $3,000

Subtract the salvage value from the purchase price to find the depreciable cost.

Depreciation value = 45,000 - 3000

                              = $42000

Divide the depreciable cost by the asset's lifespan to get the depreciation.

Depreciation         = Depreciation value / useful life

                              = 42000 / 6

                              = $7000 per year

from July 1 - dec 31 =6 months

                              = 7000/2 (12/6 = half year)

                              = $3500

for respect usually. some people might be little awkward if you meet or some would be different. usually   you dont love people when you meet them depends on the type of person.

hope this