Question
Crane Company purchased a computer for $8,080 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,010 salvage value.
Crane Company purchased a computer for $8,080 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life and a $1,010 salvage value. On January 1, 2021, the estimates are revised. Crane now feels the computer will be used until December 31, 2022, when it can be sold for $505. Compute the 2021 depreciation.
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Financial Accounting Theory
Authors: William R Scott
5th Edition
0132072866, 978-0132072861
