Ron's Quik Shop bought machinery for $125,000 on January 1, 2019. Ron estimated the useful life...

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Ron's Quik Shop bought machinery for $125,000 on January 1, 2019. Ron estimated the useful life to be 5 years with no residual value, and the straight-line method of depreciation will be used. On January 1, 2020, Ron decides that the business will use the machinery for a total of 6 years. What is the revised depreciation expense for 2020? $16.667 O $10,000 $25,000 O $20,000 Ron's Quik Shop bought machinery for $125,000 on January 1, 2019. Ron estimated the useful life to be 5 years with no residual value, and the straight-line method of depreciation will be used. On January 1, 2020, Ron decides that the business will use the machinery for a total of 6 years. What is the revised depreciation expense for 2020? $16.667 O $10,000 $25,000 O $20,000

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Particulars Cost of Machinery Life of Machinery Initial Annual Depreciation Cost ... View the full answer