Please help with fields in yellow. Thanks. On January 2, 2017, the Matthews Band

Question

Please help with fields in yellow. Thanks.

On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $68,000. The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $1,000. During year 2017, the band performs 45 concerts. Compute the year 2017 depreciation using the straight-line method. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: Choose Denominator: Cost minus salvage Estimated useful life (years) Depreciation expense

Explanation / Answer

Cost 68000 salvage value 1000 depreciation Expenses = (68000-1000)/2 =29000 Depreciation Expenses for the year = 29000

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