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Kingston Corporation acquired equipment on January 1,2012 , for $300,000. The equipment had an estimated useful life of 10 years and an estimated residual value
Kingston Corporation acquired equipment on January 1,2012 , for $300,000. The equipment had an estimated useful life of 10 years and an estimated residual value of $25,000. On January 1,2015 , Kingston revised the total useful life of the equipment to 8 years and the estimated salvage value to be $10,000. The depreciation expense under the straight-line depreciation method for the year ending December 31, 2015 is: $38,500$25,938$41,500$43,500
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