Reno Company purchased equipment on January 1, 2010 for $82,000. The equipment is estimated to have a 5-year life and a salvage value of $5,000. The company used the straight-line depreciation method.
At the beginning of 2015, Reno revised the expected life to eight years. The annual amount of depreciation expense for each of the remaining years would be:

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The Answer of Reno Company purchased equipment on January 1, 2010 for $82,000. The equipment is estimated to have a 5-year life and a salvage value of $5,000. The company used the straight-line depreciation method.
At the beginning of 2015, Reno revised the expected life to eight years. The annual amount of depreciation expense for each of the remaining years would be:

Reno Company Purchased Equipment on January 1, 2010 for $82,000