Joe's Copy Shop bought equipment for $60,000 on January 1, 2018. Joe estimated the useful life to be 3 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2019, Joe decides that the business will use the equipment for 5 years from the date of original purchase. What is the revised depreciation expense for 2019? $15,000 $20,000 $10,000 $8,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Joe's Copy Shop bought equipment for $60,000 on January 1, 2018. Joe estimated the useful life to
be 3 years with no salvage value, and the straight-line method of depreciation will be used. On
January 1, 2019, Joe decides that the business will use the equipment for 5 years from the date of
original purchase. What is the revised depreciation expense for 2019?
O $15,000
O $20,000
$10,000
O $8,000
DELL
ZEBCO
Transcribed Image Text:Joe's Copy Shop bought equipment for $60,000 on January 1, 2018. Joe estimated the useful life to be 3 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2019, Joe decides that the business will use the equipment for 5 years from the date of original purchase. What is the revised depreciation expense for 2019? O $15,000 O $20,000 $10,000 O $8,000 DELL ZEBCO
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