depreciation

Project Description:

equipment was acquired on january 1, 2009, at a cost of $190,000. the equipment was originally estimated to have a salvage value of $10,000 and an estimated life of 10 years. depreciation has been recorded through december 31, 2011, using the straight-line method. on january 1, 2012, the estimated salvage value was revised to $16,000 and the useful life was revised to a total of 8 years.

instructions
determine the depreciation expense for 2012 and prepare the journal entry to record the depreciation expense for the year of 2012.
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Price Type: Negotiable

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