Question: Refer to the Lufthansa example on asset depreciation estimates. What adjustments would be required if Lufthansas aircraft depreciation were computed using an average life of

Refer to the Lufthansa example on asset depreciation estimates. What adjustments would be required if Lufthansa’s aircraft depreciation were computed using an average life of 25 years and salvage value of 5% (instead of the reported values of 12 years and15%)? Show the adjustments to the 2008 and 2009 balance sheets, and to the 2009 income statement.

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