Question: Seven Flags over Georgia paid 180 000 for a concession stand

Seven Flags over Georgia paid $180,000 for a concession stand. Seven Flags started out depreciating the building straight-line over 10 years with zero residual value. After using the concession stand for 6 years, Seven Flags determines that the building will remain useful for only 2 more years. Record Seven Flags’ depreciation on the concession stand for year 7 by the straight-line method.

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  • CreatedJuly 25, 2014
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