Revised annual depreciation, accounting homework help
On January 1, 2010, the Thompson Beer Corporation purchased equipment at a cost of $140,000. It was expected to have a useful life of eight years and no salvage value. The straight-line depreciation method was used. In January 2012, the estimate of salvage value was revised for $0 to $7,800. How much depreciation should Thompson Beer Corporation record for 2012? ??Divided by??=Revised annual depreciation