Jennings Advertising Inc reported on its balance sheet as of December 31, 2018 Equipment $ 490 000 Minus Accumulated depreciationequipment $ 252 000 In a disclosure note, Jennings states that he used straight line depreciation over 14 years and estimated the salvage value at 10 of cost What is the ...

To calculate the average age of equipment we need to determine the ...

Jennings Advertising Inc. reported on its balance sheet as of December 31, 2018: Equipment $ 490.000 Minus:

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Jennings Advertising Inc. reported on its balance sheet as of December 31, 2018:


Equipment	$	490.000
Minus: Accumulated depreciation—equipment	$	252.000

In a disclosure note, Jennings states that he used straight-line depreciation over 14 years and estimated the salvage value at 10% of cost.

What is the average age of equipment Jennings has?

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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Posted Date: Jul 06, 2023 08:25 AM

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Jennings Advertising Inc. reported on its balance sheet as of December 31, 2018: Equipment $ 490.000 Minus:

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Intermediate Accounting

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