Explore BrainMass
Share

Explore BrainMass

    Asset Carrying Amount

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Spiro Corp uses the sum-f-the-years digits method to depreciate equipment purchased in January 1996 for 20,000. The estimated salvage value of the equipment is 2,000 and the estimated useful life is four years. What should Spiro report as the asset's carrying amount as of December 31, 1998?

    a) 1800
    b) 2000
    c) 3800
    d) 4500.

    © BrainMass Inc. brainmass.com October 10, 2019, 5:17 am ad1c9bdddf
    https://brainmass.com/business/long-term-assets/asset-carrying-amount-499940

    Solution Summary

    This solution calculates the asset's carrying amount for Spiro Corp.

    $2.19