In: Accounting
If an MRI machine has an appraisal cost of $6,250, a historical cost of $2,785, and a depreciation expense of $96, what is its restated depreciation expense (1 point)?
Historical cost of MRI machine | $2,785 | |
Depreciation expense | $96 | |
Life of the machine in years | 29 | (2785/96) |
Appraisal cost | $6,250 | |
Restated depreciation | $215 | (6250/29) |