On January 1, 2020, the Whispering SA ledger shows Equipment 42,000 and Accumulated Depreciation-Equipment 11,500. The...
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On January 1, 2020, the Whispering SA ledger shows Equipment €42,000 and Accumulated Depreciation-Equipment €11,500. The depreciation resulted from using the straight-line method with a useful life of 10 years and residual value of €3,500. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same residual value. Compute the revised annual depreciation. Revised annual depreciation On January 1, 2020, the Whispering SA ledger shows Equipment €42,000 and Accumulated Depreciation-Equipment €11,500. The depreciation resulted from using the straight-line method with a useful life of 10 years and residual value of €3,500. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same residual value. Compute the revised annual depreciation. Revised annual depreciation
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Answer rating: 100% (QA)
Answer The revised annual depreciation would be 8500 The original depreciation was c... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas
Posted Date:
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