Chuckwalla Limited purchased a computer for $7,000 on January 1, 2020. Straight-line depreciation is used for the

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Chuckwalla Limited purchased a computer for $7,000 on January 1, 2020. Straight-line depreciation is used for the computer, based on a five-year life and a $1,000 residual value. In 2022, the estimates are revised. Chuckwalla now expects the computer will be used until December 31, 2023, when it can be sold for $500. Calculate the 2022 depreciation expense.

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Intermediate Accounting Volume 1

ISBN: 978-1119496496

12th Canadian edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

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