S7-9. (Learning Objectives 3, 4: Computing and recording depreciation after a change in useful life of the

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S7-9. (Learning Objectives 3, 4: Computing and recording depreciation after a change in useful life of the asset) Ten Flags over Georgia paid $120,000 for a concession stand. Ten Flags started out depreciating the building using the straight-line method over 20 years with zero residual value. After using the concession stand for three years, Ten Flags determines that the building will remain useful for only six more years. Record Ten Flags’ depreciation on the concession stand for year 4 by the straight-line method.

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Financial Accounting International Financial Reporting Standards Global Edition

ISBN: 9781292211145

11th Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

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