Equipment purchased on January 1, 2016 for $90,000. The equipment was initially estimated to have a residual
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Equipment purchased on January 1, 2016 for $90,000. The equipment was initially estimated to have a residual value of $5,000 and an estimated useful life of 10 years. Depreciation has been recorded using the straight-line method until 31 December 2019. On January 1, 2020, the estimated residual value was revised to $6,000 and the useful life was revised to a total of 8 years. Calculate What will be the depreciation expense for 2020?
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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