Question

On January 1, 2013, Food Storage Company purchased a freezer and related installation equipment for $38,000. The equipment had a three-year estimated life with a $5,000 salvage value. Straight-line depreciation was used. At the beginning of 2015, Food Storage revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,000.

Required
Compute the depreciation expense for each of the four years, 2013–2016.



$1.99
Sales0
Views110
Comments0
  • CreatedOctober 26, 2013
  • Files Included
Post your question
5000