Paragraph Styles Equipment with a cost of $70,378.00, an estimated residual value of $6,930.00, and an...

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Paragraph Styles Equipment with a cost of $70,378.00, an estimated residual value of $6,930.00, and an estimated life of 11 y

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Answer 1

Answer #1

Solution:

Carrying value of equipment after 6 years = Cost - Accumulated depreciation

= $70,378 - [($70,378 - $6,930)*6/11]

= $35,770

Remaining useful life = 7 years - 6 years = 1 year

Depreciation expense for current and future years = $35,770 / 1 = $35,770

Hence 2nd option is correct.

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Answer 2

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Paragraph Styles Equipment with a cost of $70,378.00, an estimated residual value of $6,930.00, and an...

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Homework Answers

Add Answer to: Paragraph Styles Equipment with a cost of $70,378.00, an estimated residual value of $6,930.00, and an...

Post as a guest

Earn Coins

Add Answer to:
Paragraph Styles Equipment with a cost of $70,378.00, an estimated residual value of $6,930.00, and an...