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Slav-nsk [51]
2 years ago
13

The December 31, 2016 balance sheet of Jensen Company showed Equipment of $76,000 and Accumulated Depreciation of $18,000. On Ja

nuary 1, 2017, the company decided that the equipment hasa remaining useful life of 6 years with a $4,000 salvage value. Compute the depreciable cost of the equipment. Depreciable cost Compute the revised annual depreciation.
Revised annual depreciations
Business
1 answer:
Blababa [14]2 years ago
6 0

Answer:

A. $54,000

B. $9,000

Explanation:

A. Computation for the depreciable cost of the equipment

Book value, 1/1/17 $58,000

($76,000 – $18,000)

Less salvage value $4,000

Depreciable cost $54,000

($58,000-$4,000)

Therefore the depreciable cost of the equipment is $54,000

B. Computation for the revised annual depreciation

Revised annual depreciation = $54,000÷6 years

Revised annual depreciation = $9,000

Therefore the revised annual depreciation is $9,000

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