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Sandhill Ltd. purchased equipment on January 1,2015 at a cost of $195,860. The equipment has...

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Accounting

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Sandhill Ltd. purchased equipment on January 1,2015 at a cost of $195,860. The equipment has an estimated useful life of 10 years and a residual value of $10,550. Sandhill realized that there was a declining demand for the product being produced by the equipment. Given this indicator of possible impairment, management determined that the recoverable amount of the asset on December 31,2018 was $104,860. The company uses the straight-line method of depreciation. (a) Calculate the annual depreciation and the carrying amount at December 31, 2018

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