Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. equipment was purchased at the beginning of 2016 f

Equipment was purchased at the beginning of 2016 for $340,000. At the time of its...

50.1K

Verified Solution

Question

Accounting

image

Equipment was purchased at the beginning of 2016 for $340,000. At the time of its purchase, the equipment was estimated to have a useful life of six years, and a salvage value of $40,000. The equipment was depreciated using the straight-line method of depreciation through 2018. At the beginning of 2019, the estimate of useful life was revised to a total life of eight years, and the expected salvage value was changed to $25,000. The amount to be recorded for depreciation for 2019, reflecting these changes in estimates, is $20,625 $33,000 $38,000 $39,375

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Dual-energy X-ray absorptiometry (DXA) is a technique for measuring bone health. One of the most common...

Basic Math
Q

Consider the following data for a dependent variable y and two independent variables, x1and x2. x 1 x 2 y 29 13 94 47 10 109 24 17 113 50 16 178 40 6 95 52 20 176 75 7 171 37 13 118 59 14 142 77 17 211 Round...

Basic Math
Q

How many unpaired electrons are in the following transition metal ions in an octahedral crystal field?...

Chemistry
Q

Given the following information about the Higgs boson Develop a scheme (in the form of Feynman...

Physics
Q

nducting loop having a capacitor is moving outward from the magnetic field Which plate of...

Physics
Q

The conductor AD moves to the right in a magnetic field directed into the paper...

Physics
Q

The vectors B 2 B 1 18 5 3 form a basis Find a vector...

Algebra
Q

Which of the following items would increase Cash Flow from Investing Activities? (check all that...

Accounting
Q

Crane Company borrows $36,000 on July 1 from the bank by signing a $36,000,8%, one-year...

Accounting
Q

Solve the follwing problem. On July 1, Year 1, Danzer Industries Inc. issued $43,200,000 of...

Accounting
Q

Projects A and B have the following cash flows: year ...

Finance
Q

Describe the four major categories of buyers.

Finance