On January 1, 20X1, Tailwind Inc. purchased machinery for $174,000 with an estimated 13-year useful life and
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On January 1, 20X1, Tailwind Inc. purchased machinery for $174,000 with an estimated 13-year useful life and a $5,000 salvage value. After 5 years, the company obtains new information about their machinery depreciation estimates and makes a change where the machinery would have a new total useful life of 9 years and have no salvage value. Assuming a straight-line method, what should be the yearly depreciation after the change is made? You may round amounts to the nearest dollar.
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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