Question: Complete the following depreciation table using the straight-line method (assume the asset is purchased on January 1 st ): Auto: $20,000 Residual value: $5,000 Estimated

Complete the following depreciation table using the straight-line method (assume the asset is purchased on January 1st):

Auto: $20,000 Residual value: $5,000 Estimated life: 5 years

Depreciation Accumulated

Year Cost Expense Depreciation Book Value

1

2

3

4

5

6

If the auto was purchased on Feb. 8, what would depreciation expense be in first year?

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