Accounting

of cion Equipment with a cost of $250,000 has an estimated residual value of $34,000 and an estimated useful life of 18 years and is depreciated by the straight-line method. (a) Determine the amount of the annual depreciation. (b) Determine the carrying amount at the end of the 10th year of use. (c) Assuming that at the start of the 11th year, the remaining life is estimated to be nine years, and the residual value is estimated to be $26,500, determine the depreciation expense for each of the remaining nine years. . 473 0 quipment Equipment was acquired at the beginning of the year at a cost of $324,000. The equip- ment was depreciated using the double-declining-balance method based on an esti- mated useful life of eight years and an estimated residual value of $43,000. a. What was the depreciation for the first year? b. Assuming the equipment was sold at the end of the second year for $200,000, deter- mine the gain or loss on the sale of the equipment. p. 477