Equipment was purchased at the beginning of 2012 for $680,000. At the time of its purchase, the
Fantastic news! We've Found the answer you've been seeking!
Question:
- Equipment was purchased at the beginning of 2012 for $680,000. At the time of its purchase, the equipment was estimated to have a useful life of six years and a salvage value of $80,000. The equipment was depreciated using the straight-line method of depreciation through 2014. At the beginning of 2015, the estimate of useful life was revised to a total life of eight years and the expected salvage value was changed to $50,000. The amount to be recorded for depreciation for 2015, reflecting these changes in estimates, is
a. $41,250.
b. $66,000.
c. $76,000.
d. $78,750
Related Book For
Posted Date: