Business, 18.08.2020 23:01 anasstasiyashpa
Fellingham Corporation purchased equipment on January 1, 2019, for $400,000. The company estimated the equipment would have a useful life of 10 years with a $40,000 residual value. Fellingham uses the straight-line depreciation method. Early in 2021, Fellingham reassessed the equipment's condition and determined that it has a remaining useful life of four years and that it would have no salvage value. Which of the following values is the closest to what Fellingham reports as depreciation on this equipment for 2021?
a. $50,240.
b. $36,960.
c. $52,440.
d. $55,440.
Answers: 3
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Fellingham Corporation purchased equipment on January 1, 2019, for $400,000. The company estimated t...
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