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Thurber Co. purchased equipment for $695,800 which was estimated to have a useful life of 10 years.. 1 answer below » Thurber Co. purchased equipment for $695,800 which was estimated to have a useful life of 10 years with a salvage value of $12,200 at the end of that time. Depreciation has been entered for 7 years on a straight-line basis. In 2013, it is determined that the total estimated life should be 15 years with a salvage value of $5,600 at the end of that time. Additional Requirements Level of Detail: Show all work Other Requirements: (a) Prepare the entry (if any) to correct the prior years’ depreciation. (b) Prepare the entry to record depreciation for 2013. Jul 28 2015 03:49 PM
