Depreciation help

I'm a little unsure how to calculate depreciation in this question. It doesn't give me the salvage value or the useful life of the equipment.

Equipment at cost: 58,000
Accumulated depn. on equipment: 19,000

Equipment is to be depreciated at 15% per annum using the straight line method.

That's all the information I was given, does anyone know how to calculate it? This is to be put on the income statement btw.

I'm a little unsure how to calculate depreciation in this question. It doesn't give me the salvage value or the useful life of the equipment.

Equipment at cost: 58,000
Accumulated depn. on equipment: 19,000

Equipment is to be depreciated at 15% per annum using the straight line method.

That's all the information I was given, does anyone know how to calculate it? This is to be put on the income statement btw.

The figure that goes on the income statement is simply 15% of £58000 which is £8700

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i HATE this!! doing it atm in uni and cant wait for the module to be over!

I know right, same. I have a test in 2 weeks time on income statements and the statement of financial position. This is one of the worst modules D:

yea im on my mid module assignment about the exact same thing as you!
what course are you doing?
im doing business management but its got as finance module

So I completely ignore the accumulated depreciation part?




I know right, same. I have a test in 2 weeks time on income statements and the statement of financial position. This is one of the worst modules D:

im doing accounting and finance

The accumulated depreciation is what goes on the balance sheet so £19000 plus £8700. I take it you have learnt about the depreciation expense account and the accumulated depreciation account?

If you are given a percentage you just work it out from that. If you are given a residual value and useful years then take the value away from cost and divide by the years.

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wow i feel sorry for you