On january 1, 20x2, x company made modifications to an asset used in its manufacturing operations in order to extend its useful life. the asset had an original cost of $30,000 and accumulated depreciation of $12,000, with a remaining useful life of 5 years. as a result of the modification, which cost $6,000, the remaining useful life was increased to 8 years. if x company uses straight-line depreciation, in 20x2, x company:

The answer is: Will increase the asset value by $6,000 (total asset value $24,000) and record depreciation expenses by $3,000 per year (for 8 years of remaining useful life)

Explanation:

The value of the asset modified will change from $18,000 (the difference between $30,000 original cost minus $12,000 depreciation) to $24,000 including the repairs.

The depreciation expense can be calculated by dividing the new asset value ($24,000) by the new useful life of the asset (8 years) to $3,000 per year.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

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