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Wildhorse Ltd. purchased equipment on January 1, 2015 at a cost of $166,110. The equipment...

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Accounting

image Wildhorse Ltd. purchased equipment on January 1, 2015 at a cost of $166,110. The equipment has an estimated useful life of 10 years and a residual value of $9,250. Wildhorse 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 $95,090. The company uses the straight-line method of depreciation. (a) Your answer is partially correct. Calculate the annual depreciation and the carrying amount at December 31, 2018. Annual depreciation $ Carrying amount $

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