On January 1, 2018, The Waiki Company purchased new equipment for $375,000. The equipment had an estimated
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On January 1, 2018, The Waiki Company purchased new equipment for $375,000. The equipment had an estimated $30,000 salvage value at the end of its estimated 10-year useful life. Straight-line depreciation has been recorded.
Before adjusting the accounts for 2023, Waiki reduces the useful life of the equipment to a total of 8 years and decreases the salvage value to $25,500. Calculate the 2023 depreciation expense.
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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