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What is depreciation for the three months

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Question - Equipment acquired on January 8 at a cost of $137,550 has an estimated useful life of 16 years, has an estimated residual value of $9,550, and is depreciated by the straight-line method.

a. What was the book value of the equipment at December 31 the end of the fifth year?

b. Assuming that the equipment was sold on April 1 of the sixth year for $90,510, what is (1) depreciation for the three months until the sale date, and (2) the sale of the equipment.

Reference no: EM132626442

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