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Compute the book value of the machine as of jan

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Question - Burke Copy Center purchased a machine on Jan 1, 2009 for $180,000 and estimated its useful life and salvage value at ten years and $30,000, respectively. On Jan 1, 2014, the company added three years to the original useful-life estimate.

a. Compute the book value of the machine as of Jan 1, 2014, assuming that Burke recognizes the depreciation using straight line.

b. Prepare the journal entry to record depreciation entered by the company on Dec 31, 2014, assuming that Burke uses straight-line.

Reference no: EM131690663

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