$30,00 as a whole Depreciation Base Total = $28,500 Total Straight Line Depreciation: $5,675 Group Dep Rate is equal to 5,675/33,000, or 17.20. Group Life equals 28,500 / 5,675.
The accounting technique of spreading out the cost of the a tangible asset over it's own useful life is known as depreciation. The amount of depreciation shows how much of the asset's worth has been utilized. By purchasing assets over a predetermined length of time, it enables businesses to generate income from of the assets they own.
Accumulated depreciation should be categorized as an asset rather than a liability if you must choose, simply because that is how the account is shown on the balance sheet.
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