Homework Answers
Original Depreciation = (Original Value - Salvage Value) /
Useful life
= ($36500 - $2800) / 10 = $3370
Book Value as on Jan 1, 2017 = $36500 - $13480 = $23020
Revised Annual Depreciation = (Book Value - Salvage Value) /
Remaining Useful life
= ($23020 - $2800) / 1
= $20220
From Question it is read as remaining useful life as one year, if it is different denominator will be changed or comment for revised solution.
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salvage value. On December 31, 2022, the company estimated that the
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2019. Straight-line depreciation is used, based on a 5-year life
and a $1,010 salvage value. On January 1, 2021, the estimates are
revised. Crane now feels the computer will be used until December
31, 2022, when it can be sold for $505.
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decimal places, e.g. 45,892.)
Depreciation expense, 2021
$
PLEASE SHOW ALL WORK.
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