Company Omega bought new office furniture in the year 2010. The purchase cost was 64,086 dollars and in addition it had to spend 14,102 dollars for installation. The furniture has been in use since April 3rd, 2010. Omega forecasted that in 2025 the office furniture would have a net salvage value of $1000. Using the US Accelerated Depreciation Schedule, estimate the value of depreciation recorded in the accounting books in the year 2014 if the company decided to sell the furniture on June 24th (of 2014). (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)

Company Omega bought new office furniture in the year 2010. The purchase cost was 64,086 dollars and in addition it had to spend 14,102 dollars for installation. The furniture has been in use since April 3rd, 2010. Omega forecasted that in 2025 the office furniture would have a net salvage value of $1000. Using the US Accelerated Depreciation Schedule, estimate the value of depreciation recorded in the accounting books in the year 2014 if the company decided to sell the furniture on June 24th (of 2014). (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 47P

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