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On January 1,2001,Barnes Company purchased equipment was estimated to have a salvage value of $5,000 an it is being depreciated over 8 years under...

On January 1,2001,Barnes Company purchased equipment was estimated to have a salvage value of $5,000 an it is being depreciated over 8 years under the sum -of-the-years'digits method.What should be the charge for depreciation of this equipment for the year ended December 31,2008?


George Martin Corporation purchased a depreciable asset for $300,000, and the estimated useful life is 9 years. The staright-line method is used for depreciation. In 2008, George Martin changed its estimates to a total useful life of 5 yearswiht a salvage value of $50,000. What is 2008 depreciation expense?

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