: Agrokinsey Inc. acquires a new piece of equipment in the beginning of 2016 at a cost of €20,000. The company estimates that the equipment’s useful life is 10 years and its salvage value €4,000. Agrokinsey follows the straight-line depreciation method. Answer the following five questions: View
: Assume now that Agrokinsey Inc. had estimated a useful life of 15 years instead of 10 years with the same salvage value. Ignore any tax effects of this change in accounting policy. Which of the following statements is correct? View
