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Motown purchased an asset with the following information available: Straight-line method of depreciation is used. Date Placed in Service 7/1/X3 Cost of Asset $ 900,000
Motown purchased an asset with the following information available: Straight-line method of depreciation is used. Date Placed in Service 7/1/X3 Cost of Asset $ 900,000 Estimated Useful Life IGNORE INCOME TAXES Date Useful Life Changed Revised Estimated Useful Life 1/1/X8 12 12.) The journal entry required to record the change in depreciation life has what impact the asset section of the balance sheet ONLY? A. Increase B. Decrease C. No impact 13.) The yearly depreciation expense after the change in estimates is
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