On January 1, 2014, Waterway Industries purchased equipment at a cost of $404000. The equipment was estimated to have a salvage value of $17000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2021? O $50500 $48375 $10750 O $11222
On January 1, 2014, Waterway Industries purchased equipment at a cost of $404000. The equipment was estimated to have a salvage value of $17000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2021? O $50500 $48375 $10750 O $11222
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 3EB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...
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![On January 1, 2014, Waterway Industries purchased equipment at a cost of $404000. The equipment was estimated to have a salvage value of $17000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for
depreciation of this equipment for the year ended December 31, 2021?
O $50500
O $48375
O $10750
$11222](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F621422a2-1c96-4d3f-8e93-5056fd32804d%2F1d30c908-9647-4eb1-aaa1-ed3fa535bfd3%2Fqwl463p_processed.png&w=3840&q=75)
Transcribed Image Text:On January 1, 2014, Waterway Industries purchased equipment at a cost of $404000. The equipment was estimated to have a salvage value of $17000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for
depreciation of this equipment for the year ended December 31, 2021?
O $50500
O $48375
O $10750
$11222
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