Using the straight-line method what is the depreciation, Cost Accounting

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Using the straight-line method what is the depreciation

Problem

On July 1, 2007, X Corp purchased a building. The cost of the building was $800,000 and the building was estimated to have a residual (salvage) value of $50,000 at the end of its 20-year estimated useful life. Using the straight-line method, what is the depreciation expense for this building for the fiscal year ending December 31, 2009?

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Cost Accounting: Using the straight-line method what is the depreciation

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