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At the beginning of 2017, Splish Brothers Inc. acquired equipment costing $106,600. It was estimated...

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Accounting

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At the beginning of 2017, Splish Brothers Inc. acquired equipment costing $106,600. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $10,660 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2019 (the third year of the equipment's life), the company's engineers reconsidered their expectations and estimated that the equipment's useful life would probably be 7 years (in total) instead of 6 years. The estimated salvage value was not changed at that time. However, during 2022, the estimated salvage value was reduced to $5,000 Indicate how much depreciation expense should be recorded each year for this equipment, by completing the following table Depreciation Accumulated Depreciation YearExpense 2017 15990 15990 2018 15990 31980 2019 18188 50168 2020 18188 68356 2021 18188 86544 2022 7528 94072 2023 7528 101600

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