The depreciation expense under the straight-line method for 2022 is $20,628.
Depreciation (units-of-activity) is calculated as [(Cost - Salvage Value) / Total Working Hours] x Hours Worked = [($122,000 - $14,000) / 10,000 Hours] x 1,910 hours = $20,628. The cost of depreciation in 2020 is $20,628.
Depreciation is an accounting technique that disperses the cost of a fixed asset, such as real estate or machinery, across the time it will probably be in use.
Straight-line depreciation uniformly distributes an asset's cost over the period of time it will be used or its "useful life." Asset cost, usable life, and anticipated salvage value—or how much the asset is likely to be worth at the end of its useful life—are the only three inputs needed to determine the result.
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