Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright

تمرين 5

Jayhawk Oil Company obtained seismic equipment on January 1, 2014, at a cost
of $100,000. The equipment was used in G&G operations for calendar year 2014.
The equipment has an estimated life of 10 years with a salvage value of $20,000.
The company uses the straight-line method in computing depreciation. Record the
depreciation for the year 2014.