Equipment costing $90,000 with a residual value of $18,000 and an estimated life of 8 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 5 years and no change in the residual value, the depreciation expense for year 3 would be

Question

Quizplus · Accepted Answer

The Answer of Equipment costing $90,000 with a residual value of $18,000 and an estimated life of 8 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 5 years and no change in the residual value, the depreciation expense for year 3 would be

Equipment Costing $90,000 with a Residual Value of $18,000 and an Estimated