Academic Integrity: tutoring, explanations, and feedback — we don’t complete graded work or submit on a student’s behalf.

help to answer it and Explain ratal X Inbox (3)- 03420504@er X tps/l hapters 7 t

ID: 2540380 • Letter: H

Question

help to answer it and Explain

ratal X Inbox (3)- 03420504@er X tps/l hapters 7 to 12 Exercise 8-13 Revising depreciation LO C2 Apex Fitness Club uses straight-line depreciation for a machime costing $29.450, with an estimated four year life and a $2 350 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaning useful life, after which it will have an estimated $1,900 salvage value Required 1. Compute the machine's book value at the end of its second year 2. Compute the amount of depreciation for each of the final three years given the revised estimatès Complete this question by entering your answers in the tabs below. Required 2 Compute the machine's book value at the end of its second year Accumulaned depreciation 2 yees Boxk value at point of revson 8

Explanation / Answer

Straight line depreciation = (29450 - 2350) / 4 = 6775

Depreciation for 2 years = 6775 *2 = 13550

Book value at end of year 2 = 29450 - 13550 = 15900

Revised salvage = 1900

Revised depreciation = (15900 - 1900) / 3 = 4666.67