What is depreciation expense for the year ending december, Financial Accounting

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What is depreciation expense for the year ending december

Problem

Spanitz Corporation acquired equipment on January 1, 20X0, for $600,000, with an estimated useful life of 10 years and an estimated salvage value of $50,000. On January 1, 20X3, Spanitz Corporation revised the salvage value to $0 and revised the useful life to 9 additional years (12 years in total). What is depreciation expense for the year ending December 31, 20X3 if Spanitz Corporation uses straight-line depreciation?

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Financial Accounting: What is depreciation expense for the year ending december

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