Business, 18.06.2020 01:57 anabellabenzaquen

The Donut Stop acquired equipment for $23,000. The company uses straight-line depreciation and estimates a residual value of $3,400 and a four-year service life. At the end of the second year, the company estimates that the equipment will be useful for four additional years, for a total service life of six years rather than the original four. At the same time, the company also changed the estimated residual value to $2,000 from the original estimate of $3,400.Required:Calculate how much The Donut Stop should record each year for depreciation in years 3 to 6.Cost of the equipment:Less: accumulated depreciation (year 1 & 2):Book value, end of year 2:Less: new residual value:New depreciable cost:Remaining service life:Annual depreciation in years 3 to 6

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The Donut Stop acquired equipment for $23,000. The company uses straight-line depreciation and estim...

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