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On January 1, Year 1, Parker Company purchased an asset costing $20,000. The asset had an expected five-year life and a $2,000 salvage value. The company uses the straight-line method. What are the amounts of depreciation expense and accumulated depreciation, respectively, that will be reported in the Year 2 financial statements

1 Answer

5 votes

Answer:

3600

7200

Step-by-step explanation:

User Anil Parshi
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