Jeffs copy shop bought equipment for 15000 on january 1, Ask an Expert

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Jeff's Copy Shop bought equipment for $15,000 on January 1, 2003. Jeff 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, 2004, Jeff decides that the business will use the equipment for a total of 5 years. What is the revised depreciation expense for 2004?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M948140

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