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QUESTION 4 Partially correct Mark 1.71 out of 3.00 Flag question Revision of Depreciation On...

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QUESTION 4 Partially correct Mark 1.71 out of 3.00 Flag question Revision of Depreciation On January 2, 2012, Mosler, Inc., purchased equipment for $85,000. The equipment was expected to value at the end of its estimated six-year useful life. Straight-line depreciation has been recorded. Before a for 2016, Mosler decided that the useful life of the equipment should be extended by three years and the salvage value decreased to $8,000 have a s10,000 salvage djusting the accounts a. Prepare a journal entry to record depreciation expense on the equipment for 2016. Round your answer to the nearest dollar. General Journal Debit Credit Dec. 31 Depreciation Expense Equipment Accumulated Depreciation- Equipment To record depreciation expense. b. What is the book value of the equipment at the end of 2016 (after recording the depreciation expense for 2016? 0 Book value at year ended December 31, 2016: $ Check You have correctly selected 4 Partially correct Marks for this submission: 1.71/3.00

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