Peavey Enterprises purchased a depreciable asset for $24,500 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,500, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? a. $15,125.b. $4,583.c. $22,000.d. $18,333.e. $5,500.

The amount of accumulated depreciation on this asset on December 31, Year 3 is a. $15,125.

Depreciable Value = $24,500-$2500

Depreciable Value = $22,000

Per Year depreciation = $22000/4

Per Year depreciation= $5500

Depreciation for year 1 = $5500 x 9/12

Depreciation for year 1  = $4125

Depreciation for year 2 = $5500

Depreciation for year 3 = $5500

Accumulated depreciation on 31st December year 3 = $4125+$5500+$5500  

Accumulated depreciation on 31st December year 3= $15,125

Inconclusion the amount of accumulated depreciation on this asset on December 31, Year 3 is a. $15,125.

Learn more about accumulated depreciation here:link

a. $15,125

Explanation:

The computation of the accumulated depreciation is shown below:

The formula i.e. be used for the yearly depreciation expense using the straight-line method is shown below:

= (Original cost - residual value) ÷ (useful life)  

For the first year

= ($24,500 - $2,500) ÷ (4 years)  

= ($22,000) ÷ (4 years)  

= $5,500

The 9 months depreciation is $4,125

For the second year

= ($24,500 - $2,500) ÷ (4 years)  

= ($22,000) ÷ (4 years)  

= $5,500

For the third year

= ($24,500 - $2,500) ÷ (4 years)  

= ($22,000) ÷ (4 years)  

= $5,500

Now the accumulated depreciation is

= $4,125 + $5,500 + $5,500

= $15,125

answer; tech (a) is correct;

if it is for a job, then you should learn everything you can about the job, like what does it involve, what qualification is required and how you are the right person for that job. dress appropriately for the interview. get plenty of rest the night before. good luck!