On January 1, 2022, the Morgantown Company ledger shows Equipment $32,000 nd Accumulated Depreciation $9,000. The depreciation
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On January 1, 2022, the Morgantown Company ledger shows Equipment $32,000 nd Accumulated Depreciation $9,000. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,000. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same salvage value. Compute the revised annual depreciation.
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Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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