On January 1. 2006. the Vasquez Company ledger shows Equipment $32,000 and Accumulated Depreciation $9,000. The depreciation
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On January 1. 2006. the Vasquez Company ledger shows Equipment $32,000 and Accumulated Depreciation $9,000. The depreciation resulted from using the straight-line method with a useful life of 10 years and salvage value of $2,000. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same salvage value. Compute the revised annual depreciation.
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Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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