Question

mnouncements - ACCT1210:F X Cengage X CengageNOWV2 Online teachin x + n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . Log Into JWU Grammar Checker > Johnson & Wales P... Shared album - Dor.. top There's racial biasi... More Than Half Of. eBook 5 Calculator Cornerstone Exercise 7-22 Revision of Depreciation On January 1, 2017, Slade Inc. purchased a machine for $90,000. Slade depreciated the machine with the straight-line depreciation method over a useful life of 10 years, using a residual value of $4,000. At the beginning of 2019, a major overhaul, costing $35,000, was made. After the overhaul, the machine's residual value is estimated to be $2,500, and the machine is expected to have a remaining useful life of 12 years. Required: Determine the depreciation expense for 2019. Previous Next Check My Work

need help i try to add but it's not working

Answer 1

Cost	$90,000		Dep. As per SLM		=(90000-4000)/10
Residual Value	$4,000		(For 2017 & 2018)		$8,600
Useful Life	10	years
Book Value at beginning of 2019	$72,800
(=90000-8600-8600)
Add: Major overhaul cost	$35,000
Total Value of machine at beg. of 2019	$1,07,800
New Residual Value	$2,500
Remaining useful life	12	years
Depreciation for 2019
=(107800-2500)/12
$8,775

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