Worcester Company purchased equipment for $72,000.The equipment has an estimated useful life of eight years and will be worthless at the end of that time.In the partial balance sheet below,show exactly how the equipment should be disclosed after it has been used for five years.Also calculate total assets.

Question

Worcester Company purchased equipment for $72,000.The equipment has an estimated useful life of eight years and will be worthless at the end of that time.In the partial balance sheet below,show exactly how the equipment should be disclosed after it has been used for five years.Also calculate total assets.
Worcester Company purchased equipment for $72,000.The equipment has an estimated useful life of eight years and will be worthless at the end of that time.In the partial balance sheet below,show exactly how the equipment should be disclosed after it has been used for five years.Also calculate total assets.

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The Answer of Worcester Company purchased equipment for $72,000.The equipment has an estimated useful life of eight years and will be worthless at the end of that time.In the partial balance sheet below,show exactly how the equipment should be disclosed after it has been used for five years.Also calculate total assets.

Worcester Company Purchased Equipment for $72,000