terry wade, the new controller of hellickson company, has reviewed

Project Description:

terry wade, the new controller of hellickson company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2014. his findings are as follows.

date
accumulated
depreciation
useful life
in years
salvage value
type of asset
acquired
cost
1/1/14
old
proposed
old
proposed
building 1/1/08 $800,800 $114,150 40 50 $39,800 $68,450
warehouse 1/1/09 117,700 22,700 25 20 4,200 24,500

all assets are depreciated by the straight-line method. hellickson company uses a calendar year in preparing annual financial statements. after discussion, management has agreed to accept terry’s proposed changes.



compute the revised annual depreciation on each asset in 2014.
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Price Type: Negotiable

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