View the step-by-step solution to:

# Thurber Co. purchased equipment for \$695,800 which was estimated to have a useful life of 10 years with a salvage value of \$12,200 at the end of that...

Thurber Co. purchased equipment for \$695,800 which was estimated to have a useful life of 10 years with a salvage value of \$12,200 at the end of that time. Depreciation has been entered for 7 years on a straight-line basis. In 2013, it is determined that the total estimated life should be 15 years with a salvage value of \$5,600 at the end of that time.

SOLUTION:
Depreciation = (Cost - Salvage Value) / Useful Life
Old Depreciation = (\$695,800 - \$12,200) / 10 years
Old Depreciation \$68,360.00 Total Depreciation for 7 years = \$68,360 * 7 years
Total...

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

### -

Educational Resources
• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents