l Auebu uhting 12e (ACC 171/272 STANDARD VIEW PRINTER VERSION BACK NEXT Problem

Question

l Auebu uhting 12e (ACC 171/272 STANDARD VIEW PRINTER VERSION BACK NEXT Problem 10-4A At the beginning of 2015, Mazzaro Company acquired equipment costing $82,600. It was estimated that this equipment would have a useful life of 6 years and a salvage alue of $8,260 at that time. The straight-line method of depreciation was considered the most appropriate to use with thils type of equipment. Depreciation is to be recorded at the end of each year During 2017 (the third year of the equipment's life), the company's engineers reconsidered thelr expectations, and estimated that the equipment's useful life would probably be 7 years (in total) instead of 6 years. The estimated salvage value was not changed at that time. However, during 2020 the estimated salvage value was reduced to $5,000. Indicate how much depreciation expense should be recorded each year for this equipment, by completing the following table Year Expense Depreciation Depreciation Accumulated 2015 2016 2017 2019 2020 2021 NK TO TEXT By accessing this Question Assistance, you will leam while you earn points based on the Paint Potential Palicy set by your instructor. Question Attempts: 0 of 3 used AVE HOR LATERSUBMIT ANSWER 8 delete 3 command option mmand

Explanation / Answer

Calculate depreciation expense and accumlated depreciation ;

Year Depreciation expense Accumlated depreciation 2015 (82600-8260/6) = 12390 12390 2016 12390 24780 2017 (82600-24780-8260/5) = 9912 34692 2018 9912 44604 2019 9912 54516 2020 (82600-54516-5000/2) = 11542 66058 2021 11542 77600

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