Question

Answer in one Sentence only

Give the formula to calculate the annual depreciation as per Straight Line Method.

Answer 1

$\mathrm{Annual}\mathrm{Depreciation}=\frac{\mathrm{Cost}\mathrm{of}\mathrm{the}\mathrm{asset-Scrap}value}{\mathrm{No.}\mathrm{of}\mathrm{years}\mathrm{of}\mathrm{useful}life}$