Lauter Tun Corporation acquired equipment on January 1, 2017, for $300,000. The equipment had an estimated...
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Lauter Tun Corporation acquired equipment on January 1, 2017, for $300,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $25,000. On January 1, 2020, Lauter Tun Corporation revised the total useful life of the equipment to 8 years and the estimated salvage value to be $10,000. Compute depreciation expense for the year ending December 31, 2020, if Lauter Tun Corporation uses straight-line depreciation. O A. $25,938 B. $41,500 C. $43,500 O D. $38,500 Lauter Tun Corporation acquired equipment on January 1, 2017, for $300,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $25,000. On January 1, 2020, Lauter Tun Corporation revised the total useful life of the equipment to 8 years and the estimated salvage value to be $10,000. Compute depreciation expense for the year ending December 31, 2020, if Lauter Tun Corporation uses straight-line depreciation. O A. $25,938 B. $41,500 C. $43,500 O D. $38,500
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Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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