equipment pment costing $113,800. It was estimated considered the most appropria

Question

equipment pment costing $113,800. It was estimated considered the most appropriate to use with At the beginning of 2017, Novak Corp the beginning of 2017, Novak Corp. acquire k Corp. a ife of 6 years and a salvage value that this equipment would have a useru Uion waand a salvage value of $11,380 at that line method of depi to be recorded at the end of each year this type of equipment. Depreciation is to expectations and estimated that the equip 2022, the estimated salvage value was re Indicate how much depreciation expense should be recorded each ioment's life), the co the company's engineers reconsidered their me ly be 7 years (in total) age value was not changed at that time. However, during instead of 6 years. The estimated salvage vacd tas nchange year for this equipment, by completing the following table Depreciation Accumulated Year Expense Depreciation 2017 s 2018 2019 2020 2021 2022 2023 Question Attempts: 0 o Copyright © 2000-2017 by John Wiley & Sons, Inc. or related companies. All rights reserved

Explanation / Answer

Depreciation expenses table :

Straight line dep = (113800-11380/6) = 17070

Dep from third year = (113800-34140-5000)/5 = 14932

Year Depreciation expenses Accumlated dep 2017 17070 17070 2018 17070 34140 2019 14932 49072 2020 14932 64004 2021 14932 78936 2022 14932 93868 2023 14932 108800

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