Fellingham Corporation purchased equipment on January 1, 2019, for $240,000. The company estimated the equipment would have a useful life of 10 years with a $18,800 residual value. Fellingham uses the straight-line depreciation method. Early in 2021, Fellingham reassessed the equipment's condition and determined that its total useful life would be only six years in total and that it would have no salvage value. How much would Fellingham report as depreciation on this equipment for 2021

$48,940

Explanation:

Straight line depreciation method charges a fixed amount as depreciation expense using the formula :

Depreciation expense = (Cost - Residual Value) ÷ Estimated useful life

therefore,

2019

Depreciation expense = $22,120

2020

Depreciation expense = $22,120

2021

New depreciable amount = Cost - Accumulated deprecation - New Residual Amount

                                           = $240,000 - $44,240

                                           = $195,760

New Useful life = Remaining years

                          = 6 - 2

                          = 4

therefore,

Depreciation expense = $195,760 ÷ 4

                                      = $48,940

answer; i believe that the correct answer is ( owners investment)

answer: 11/12

step-by-step explanation: 4 1/4 and 3 1/3 is equivalent to 4 3/12 and 3 4/12. 4 3/12 - 3 4/12 =11/12