SOLUTION: An automobile purchased for use by the manager of a firm at a price $24,000 is to be depreciated using the straight line method over 5 years. what will be the book value of the au
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Question 701039: An automobile purchased for use by the manager of a firm at a price $24,000 is to be depreciated using the straight line method over 5 years. what will be the book value of the automobile at the end of 3 years? (assume the scrap value is $0). THANKS Answer by checkley79(3341) (Show Source):
You can put this solution on YOUR website! 24,000/5=4800 PER YEAR IS THE DEPRECIATION.
24000-3*4800
24000-14400=$9600 VALUE AFTER 3 YEARS.
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