On January 1, 2017, Kaldex Company purchased for $35,720 equipment with an estimated useful life of eight

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On January 1, 2017, Kaldex Company purchased for $35,720 equipment with an estimated useful life of eight years and an estimated residual value at the end of its life of $4,200. Early in January 2020, it was determined that the total estimated useful life on the equipment should be 10 years with a revised estimated residual value of $1,570. Kaldex uses the straight-line method to calculate depreciation and its year-end is December 31. Calculate revised depreciation for 2020.

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Fundamental Accounting Principles Volume 2

ISBN: 9781259087363

15th Canadian Edition

Authors: Kermit Larson, Heidi Dieckmann

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