rrd
Jan 26, 2008, 09:43 AM
How do I calculate the straight-linedepreciation for machinery for 2008 given the following information:
Jan 1 2007 Paid 25,860 cash + $1810 in sales tax, esto=imated 5 year life with $3670 estimated salvage value
Jan 3 2007 Paid $1850 to enhance the machinery which increased the salvage value by $230
Jan 1 2008 Paid $2080 to overhaul the machinery which increase the estimated life by 2 years
May 10 Paid $800 to repair the machinery
How do I calculate the straight-line depreciation on the machinery?:confused:
Jan 1 2007 Paid 25,860 cash + $1810 in sales tax, esto=imated 5 year life with $3670 estimated salvage value
Jan 3 2007 Paid $1850 to enhance the machinery which increased the salvage value by $230
Jan 1 2008 Paid $2080 to overhaul the machinery which increase the estimated life by 2 years
May 10 Paid $800 to repair the machinery
How do I calculate the straight-line depreciation on the machinery?:confused: