Five Flags over New York paid $90,000 for a concession stand. Five Flags started out depreciating the

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Five Flags over New York paid $90,000 for a concession stand. Five Flags started out depreciating the building straight-line over 10 years with zero residual value. After using the concession stand for 5 years, Five Flags determines that the building will remain useful for only 3 more years. Record Five Flag’s depreciation on the concession stand for year 6 by the straight-line method.


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Financial accounting

ISBN: 978-0132751124

9th edition

Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom

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