Laney Inc and Monroe Company Each Ordered a New Computer on on January

question 38

Essay

Laney Inc. and Monroe Company each ordered a new computer on January 1, 2017. The cost of each computer was $3,500. The economic life expectancy of each computer is three years with a $500 expected salvage value. During the current year Laney and Monroe experienced identical operating events with the only difference being that Laney used the straight-line depreciation method, while Monroe used the double-declining-balance depreciation method. Both became disenchanted with their computers during the year due to the introduction of a new generation of computers, and on December 31, 2017, each sold the computer for $800.
Calculate Laney's depreciation expense and loss (gain) from the disposal of the computer.

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Definitions:

Discrimination

The unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.

Women's Wages

The average compensation or income earned by women for their labor or services, often discussed in the context of gender pay gap issues.

Men's Wages

The earnings received by men for their labor or services, often analyzed in comparison to women's wages for discussions on gender wage gaps.

Auto Repair

Maintenance and repair services for vehicles, often performed by mechanics in garages or workshops.