The balance sheets of Tully Corp. showed the following at December 31, 2017, and

Question

The balance sheets of Tully Corp. showed the following at December 31, 2017, and 2016: December 31, 2017 December 31, 2016 Equipment, less accumulated depreciation of $97,600 at December 31, 2017, and $61,000 at December 31, 2016. $ 71,200 $ 107,800
Required: a. If there have not been any purchases, sales, or other transactions affecting this equipment account since the equipment was first acquired, what is the amount of depreciation expense for 2017? The balance sheets of Tully Corp. showed the following at December 31, 2017, and 2016: December 31, 2017 December 31, 2016 Equipment, less accumulated depreciation of $97,600 at December 31, 2017, and $61,000 at December 31, 2016. $ 71,200 $ 107,800
Required: a. If there have not been any purchases, sales, or other transactions affecting this equipment account since the equipment was first acquired, what is the amount of depreciation expense for 2017? The balance sheets of Tully Corp. showed the following at December 31, 2017, and 2016: December 31, 2017 December 31, 2016 Equipment, less accumulated depreciation of $97,600 at December 31, 2017, and $61,000 at December 31, 2016. $ 71,200 $ 107,800
Required: a. If there have not been any purchases, sales, or other transactions affecting this equipment account since the equipment was first acquired, what is the amount of depreciation expense for 2017?

Explanation / Answer

Answer

a) Depreciation expense 97,600 - 61,000 = 36,600 ( depreciation expense is the difference between the acumulated depreciation)

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