Question: Question 6 Tweed Feed & Seed purchased a new machine on January 1, 2020: Cost when acquired Estimated residual value Estimated useful life Accumulated depreciation

Question 6 Tweed Feed & Seed purchased a new machine on January 1, 2020: Cost when acquired Estimated residual value Estimated useful life Accumulated depreciation at the end of year 5 (assume straight-line depreciation) $26,000 2,000 10 years 12,000 It is now the beginning of year 6 and the management reevaluated the estimates related to the machine. Compute the depreciation expense for year 6 under each of the following independent cases: Case Event Depreciation Expense A The estimated total useful life is changed to 15 years B The residual value is changed to $1,000; useful life unchanged. C The estimated total useful life is changed to 7 years and the residual value is changed to $3,000

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