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What is a betterment

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Question: 1. In early January 2011, a company acquires equipment for $3,800. The company estimates this equipment to have a useful life of three years and a salvage value of $200. Early in 2013, the company changes its estimates to a total four-year useful life and zero salvage value. Using the straight-line method, what is depreciation for the year ended 2013?

2. What is a betterment? How is a betterment recorded?

3. Give an example of a natural resource and of an intangible asset.

Reference no: EM131533854

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