Homework Answers
Question:1
The Answer is A. $ 25,000
Working:
| Equipment Cost | $ 65,000 |
| Estimated Salvage Value | $ 5,000 |
| Useful Life | 12 Years |
| Accumulated Depreciation after 5 Years [(65000-5000)/12Years*5Years] | $ 25,000 |
So, Remaining options are incorrect.
Question:2
The Answer is C. $ 1,600
Working:
| Equipment Cost | $ 10,000 |
| Book Value After 4 Years | $ 5,200 |
| Useful Life | 7 Years |
| If Salvage Value is | $ 1,600 |
| Book Value After 4 Years[10000-((10000-1600)/7Years*4Years)] | $ 5,200 |
So, Remaining options are incorrect.
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Please check if it's correct. If not, please explain and re-do
it.
Thanks
Assignment 2 O Hw Equipment was acquired on January 1, 2021, at a cost of $12,000. The equipment was originally estimated to have a salvage value of $1,000 and an estimated life of 10 years. Depreciation has been recorded through to December 31, 2024, using the straight-line method. On January 1, 2025, the estimated salvage value was revised to $1,200 and the useful life was revised to...
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