Question
A company purchased equipment at the start of 2016 for $703,000. When it was purchased, the equipment was expected to have a useful life of
A company purchased equipment at the start of 2016 for $703,000. When it was purchased, the equipment was expected to have a useful life of 6 years and a salvage value of $97,000 and it was being depreciated straight-line through 2018. At the start of 2019, the total useful life and salvage value were revised to 8 years and $53,000, respectively.
Based on this information, how much depreciation expense would the company record in 2019?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
