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Baglia’s Wholesale Trinkets has a 3-D printer used in operations. The original useful life was estimated to be six years. However, after two years of use, the printer was overhauled, and its total useful life was extended to eight years. How many years of depreciation remain after the overhaul in year 2?

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Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
FindFindarrow_forward

Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 11, Problem 12EB
Textbook Problem
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Baglia’s Wholesale Trinkets has a 3-D printer used in operations. The original useful life was estimated to be six years. However, after two years of use, the printer was overhauled, and its total useful life was extended to eight years. How many years of depreciation remain after the overhaul in year 2?

To determine

Introduction:

The estimated time period of a depreciable fixed asset over which it can be used productively within operations is referred to as an useful life of an asset.

To discuss:

The remaining useful life of an asset.

Explanation of Solution

Calculation of revised remaining useful life:

The formula to calculate revised remaining life is given below:

Revised Remaining Useful Life=Original Useful LifeDepreciating Life+Extended Life

Substitute 6 years for orginal life, 2 years for depreciating life and 8 years for extended life in the above formula

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Chapter 11 Solutions

Principles of Accounting Volume 1
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