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There are many ways you can calculate depreciation. If you're looking for answer to use for accounting or tax purposes, I'd advise you to check current laws - they might not have the best way to do it, but they have the legal way.
Here's what I've found to work best for my own planning:
V = C * (1 - D) ^ Y
Where:
V - current value
C - initial cost
D - % depreciation per year
Y - number of years owned
Example:
Car bought for $20,000.00 depreciates 18% per year, what is current value after 5 years?
C = 20,000.00
D = 18%
Y = 5
V = 20,000.00 * (1 - 0.18) ^ 5
V = 7,414.80
Answer: $7,414.80
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∙ 13y ago
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A van purchased for 44000 is depreciated over 5 years using straight line depreciation what is the depreciation equation?
the depreciation equation =asset price / 5 =44000/5 =8800
Where can I find a depreciation calculator for a car?
You can find a depreciation calculator for a car online at kellybluebook.com.
What is the depreciation on a used Mitsubishi car?
The depreciation on a used Mitsubishi car is different for every car. There is no given set limit on depreciation for a used Mitsubishi car. Dealers would know more.
If you are involved in a car wreck are you entitled to depreciation after the wrecked car is fixed?
no.
Is depreciation an example of an asset?
Usually depreciation is set up as a contra account to equipment. So in Assets you have an Equipment Account and a Accumulated Depreciation-Equipment Account showing up on the Balance Sheet in the Financial Statements. Keeping the accounting equation in mind, A=L+OE, credits made in the Accumulated Depreciation-Equipment Account are debited in a Depreciation Expense account which affects the Owners Equity side of the equation. This affects the Income Statement.
What leasing a car involve?
Renting the car for a specific period of time and paying for its depreciation.
What does leasing a car involve?
Renting the car for a specific period of time and paying for its depreciation.
How does one use a car depreciation calculator?
A person can use a car depreciation calculator by checking the following sources: What Car, Free Online Calculator Use, Edmunds, Bank Rate, Cars Direct, to name a few.
Is there an online depreciation calculator that is free to use?
Assuming you mean car depriciation, you can find a calculator here: http://www.money-zine.com/Calculators/Auto-Loan-Calculators/Car-Depreciation-Calculator/
Where can one find a depreciation calculator online?
A depreciation calculator which is used to estimate the rate of depreciation of an asset such as a house, car or land can be found on several sites online such as 'CalculatorSoup', 'Homesales' and 'Online Calculators'.
What should you do with your car if you leave the country for 2 years?
Sell it. Consider the effects of depreciation on the value of the car.
What is a sentence using the word depreciation?
My 1998 Jaguar has suffered no small depreciation.
