Question
On January 1, 2018, DeRose Company purchased equipment for $100,000. The equipment was assigned an estimated life of 15 years and had a salvage value
On January 1, 2018, DeRose Company purchased equipment for $100,000. The
equipment was assigned an estimated life of 15 years and had a salvage
value of $7,000. On January 1, 2024, DeRose Company decided the life of
the equipment should be revised from 15 to 10 years.
Calculate the depreciation expense recorded on the equipment for 2024
assuming ABC Company uses the straight line depreciation method.
I got 86,000 is that correct?
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Integrated Accounting For Windows
Authors: Dale A. Klooster, Warren Allen
5th Edition
0324312490, 9780324312492
