Alpha Corporation purchased equipment on January 1, 2014, for $80,000. At that time, it was...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Alpha Corporation purchased equipment on January 1, 2014, for $80,000. At that time, it was estimated that the equipment would have a useful life of six years and a disposal value of $15,000. In 2014 and 2015, Alpha depreciated the asset on a 20% declining balance basis. In the beginning of 2016, due to changes in technology, Alpha chose to switch to straight line depreciation for the balance of the equipment's planned useful life. What depreciation would Alpha record for the year 2016 on this equipment?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.