Ivanhoe cORPORATION PURCHASED EQUIPMENT FOR $63,500 ON JANUARY 1, 2021. iT WAS depreciated based on a seven
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Ivanhoe cORPORATION PURCHASED EQUIPMENT FOR $63,500 ON JANUARY 1, 2021. iT WAS depreciated based on a seven -year life and an $17,650 residual value. On January 1, 2023, Ivanhoe revised these estimates to total useful life of four year and a residual value of $11,100. Prepare Ivanhoes's entry to record 2023 depreciation expense. Assume that Ivanhoe follows IFRS AND USES STARAIGHT-line depreciation
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119740445
13th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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