Question
On January 1, 2019, the Novak Corp. ledger shows Equipment $45,000 and Accumulated DepreciationEquipment $9,600. The depreciation resulted from using the straight-line method with a
On January 1, 2019, the Novak Corp. ledger shows Equipment $45,000 and Accumulated DepreciationEquipment $9,600. The depreciation resulted from using the straight-line method with a useful life of 9 years and salvage value of $4,400. 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.
Revised Annual Depreciation $__________
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
