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On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $69,200. The band e
Posted: Fri Jul 01, 2022 8:50 am
by answerhappygod
- On January 2 2017 The Matthews Band Acquires Sound Equipment For Concert Performances At A Cost Of 69 200 The Band E 1 (24.58 KiB) Viewed 59 times
- On January 2 2017 The Matthews Band Acquires Sound Equipment For Concert Performances At A Cost Of 69 200 The Band E 2 (24.58 KiB) Viewed 59 times
On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $69,200. The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $1,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years. The salvage value remains unchanged. Compute the revised depreciation for both the second and third years. Book value at point of revision Remaining depreciable cost Depreciation per year for years 2 and 3