The December 31, 2013 statement of financial position of Cooper Company showed Equipment of €80,000 and Accumulated Depreciation of €22,000. On January 1, 2014, the company decided that the equipment has a remaining useful life of 6 years with a €4,000 residual value.
Instructions
Compute the (a) depreciable cost of the equipment and (b) revised annual depreciation.

Question

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The Answer of The December 31, 2013 statement of financial position of Cooper Company showed Equipment of €80,000 and Accumulated Depreciation of €22,000. On January 1, 2014, the company decided that the equipment has a remaining useful life of 6 years with a €4,000 residual value.
Instructions
Compute the (a) depreciable cost of the equipment and (b) revised annual depreciation.

The December 31, 2013 Statement of Financial Position of Cooper