On January 1, 2007, Blizzards-R-Us purchased a snow-blowing machine for $85,000. The machine was expected to have
Question:
On January 1, 2007, Blizzards-R-Us purchased a snow-blowing machine for $85,000. The machine was expected to have a residual value of $5,000 at the end of its five-year useful life. On January 1, 2009, Blizzards-R-Us concluded that the machine would have a remaining useful life of six years with a residual value of $800.
Required:
Determine the revised annual depreciation expense for 2009.
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
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