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Sheridan Company purchased a computer for $8,320 on January 1, 2016. Straight-line depreciation is used, based on a 5-year life and a $1,040 salvage value.
Sheridan Company purchased a computer for $8,320 on January 1, 2016. Straight-line depreciation is used, based on a 5-year life and a $1,040 salvage value. In 2018, the estimates are revised. Sheridan now feels the computer will be used until December 31, 2019, when it can be sold for $520. Compute the 2018 depreciation.
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