Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can some one check my work for me please On January 1, the Matthews Band pays $66,800 for sound equipment. The band estimates it will
can some one check my work for me please
On January 1, the Matthews Band pays $66,800 for sound equipment. The band estimates it will use this equipment for four years and after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the revised depreciation for both the second and third years. $ Book value at point of revision Remaining depreciable cost Depreciation per year for years 2 and 3 50,350 65,800 16,450Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started