PRACTICE PROBLEM

1212 . fx 4 BORIM.COM RIVAD ANNUAL DIPECATION DE PORIM COMPUTERHU ANNUAL DIMECIATION EXPENY 51 54 www She + PROBLEM 3 - COMPUTE REVISED ANNUAL DEPRECIATION EXPONSE 10 points PROBLEM 3-COMPUTE REVISED ANNUAL DEPRECIATION EXPENSE The December 31, 2020 balance sheet of Frost Company shows the following balances: Truck 60,000 Accumulated depreciation: truck 45,000 Revised annual depreciation expense On January 1, 2021, after a slight mishap, the company revises the estimates on this truck. Revised remaining useful life 2 years Revised salvare value 4,000 INSTRUCTIONS: Compute the revised annual depreciation expense for this equipment. PROBLEM 3.- COMPUTE REVISED ANNUAL DEPRECIATION EXPENSE 10 points PROBLEM 3-COMPUTE REVISED ANNUAL DEPRECIATION EXPENSE The December 31, 2020 balance sheet of Frost Company shows the following balances : Revised annual depreciation expense Truck Accumulated depreciation: truck 60,000 45,000 On January 1, 2021, after a slight mishap, the company revises the estimates on this truck. Revised remaining useful life Revised salvage value INSTRUCTIONS: Compute the revised annual depreciation expense for this equlpment. PROBLEM 4 - NATURAL RESOURCES 1 journal entry 5 points PROBLEM 4 - NATURAL RESOURCES 4/1/2020 Minnestota Mining Inc. purchased a new mine GENERAL JOURNAL