Homework Answers
Face Value(FV)=$52400
Life of equipment(L)=8years
Salvage Value(SV)=$3000
Initial depreciation per year = (FV-SV)/L
=($52,400-$3000)/8
=$6175
Depreciation charged for 3 years = $6175*3
=$18525
Value of equipment at the end of 3 years=$52400-$18525
=$33875
After 4 years
New face value(NFV)=$33875
New life of equipment (NL)=10 years
New Salvage Value (NSV)=$5300
Revised depreciation per year=(NFV-NSV)/NL
=($33875-$5300)/10
=$2,857.5
Note:-At the end of 4th year depreciation has not been adjusted.Therefore New face value has been calculated on the basis of 3 years depreciation.
Revised depreciation (rounded off)=$2,857
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