On January 1, 2010, Pamela Company purchased equipment for $48, 000.The estimated life was five years and the salvage value was estimated at $8, 000.On January 1, 2012, it was determined that the equipment's total useful life should have been estimated at seven years and the salvage value should have been estimated at only $4, 000.The company used straight-line depreciation.
Required:

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The Answer of On January 1, 2010, Pamela Company purchased equipment for $48, 000.The estimated life was five years and the salvage value was estimated at $8, 000.On January 1, 2012, it was determined that the equipment's total useful life should have been estimated at seven years and the salvage value should have been estimated at only $4, 000.The company used straight-line depreciation.
Required:

On January 1, 2010, Pamela Company Purchased Equipment for $48