Select Page
  

DO IT!9-3 Pinewood Corporation purchased a piece of equipment for $70,000. It estimated an 8-year life and a $2,000 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $6,000. Compute the revised depreciation.Make journal entries to record plant asset disposal.