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On November 1, 2011, Frigate Shipping Company bought equipment that .pdf
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On November 1, 2011, Frigate Shipping Company bought equipment that cost $400,000, with an estimated useful life of 8 years and an estimated salvage value of $28,000. The company uses the straight-line method of depreciation and has a fiscal year ending on October 31. For the year ended October 31, 2012, Frigate Company will report depreciation expense of Solution 400000-28000=372000 372000/8=46500.
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On November 1, 2011, Frigate Shipping Company bought equipment that .pdf
- On November 1, 2011, Frigate Shipping Company bought equipment that cost $400,000, with an estimated useful life of 8 years and an estimated salvage value of $28,000. The company uses the straight-line method of depreciation and has a fiscal year ending on October 31. For the year ended October 31, 2012, Frigate Company will report depreciation expense of Solution 400000-28000=372000 372000/8=46500
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