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pucerat523Lv1
28 Sep 2019
11. Ping Inc. purchased a depreciable asset for $400,000 on Jan 1, 2012. The estimated salvage value is $40,000, and the estimated useful life is 9 years. The straight-line method is used for depreciation. In 2015 (the beginning of the 4th year), Ping Inc changed its estimates to a total useful life of 5 years with a salvage value of $60,000. What is 2015 depreciation expense?
Answer Choices : A) $40,000, B) $110,000, C) $60,000, D) $120,000
Please show all work. Thank you!
11. Ping Inc. purchased a depreciable asset for $400,000 on Jan 1, 2012. The estimated salvage value is $40,000, and the estimated useful life is 9 years. The straight-line method is used for depreciation. In 2015 (the beginning of the 4th year), Ping Inc changed its estimates to a total useful life of 5 years with a salvage value of $60,000. What is 2015 depreciation expense?
Answer Choices : A) $40,000, B) $110,000, C) $60,000, D) $120,000
Please show all work. Thank you!
Keith LeannonLv2
29 Sep 2019