If Depreciation = ( Cost -salvage value) divided by useful life, what is depreciation expense

for the following ? Assuming the baking equipment wll have a useful life of 36 months she wants to record a full month of depreciation regardless when the equipment was obtained by the business.

I tried to calculate the monthly depreciation expense by taking the total cost of the fixed asset minus the scrap value divided by 36 -I am getting 20. I used 20% of 3475 = 695 I took the 1400 value of the equipment and deducted 695 then divided 36 ??? I"m not getting it sorry . The number should be 20 I think

Could you help with this straight line depreciation expense

 

3475 x 20% depreciation = 695 Asset of 1400 of equipment less 695 =705 /36 = 19.58 > $20. 

 

Adjusted Trial Balance

Acct Particulars Debit Credit

Cash $1440

Acct Receivables $250

Advertising Supplies $175

Baking Supplies $135

Equipment $1400

Accounts payable $75

Unearned Revenue $25

Note Payable 2000

Capital $1000

Teaching Revenue $375

Telephone expense $75

TOTAL $3475$3475