Question
On July 1, 2019, Crane Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $8,000 salvage value. On December
On July 1, 2019, Crane Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $8,000 salvage value. On December 31, 2022, the company estimated that the equipments remaining useful life was 10 years, with a revised salvage value of $5,000.
Compute the revised annual depreciation on December 31, 2022.
| Revised annual depreciation | $ |
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Modern Auditing
Authors: Graham W. Cosserat, Neil Rodda
3rd Edition
0470319739, 9780470319734
