Q1: Renewable Energies, Inc. (REI) paid $100,000 to purchase a windmill. The windmill was expected to have an 8 year useful life and a $20,000 salvage value. At the beginning of the fifth year of operation, REI changed the estimated useful life from 8 years to 14 years. Assuming the Company uses the straight-line method, the amount of accumulated depreciation on the Year 6 balance sheet would be??

Q2: Renewable Energies, Inc. (REI) paid $100,000 to purchase a windmill. The windmill was expected to have an 8 year useful life and a $20,000 salvage value. At the beginning of the fifth year of operation, REI changed the estimated useful life from 8 years to 14 years. Assuming the Company uses the straight-line method, the amount of accumulated depreciation on the Year 6 balance sheet would be??

Q3: Renewable Energies, Inc. (REI) paid $100,000 to purchase a windmill. The windmill was expected to have an 8 year useful life and a $20,000 salvage value. At the beginning of the fifth year of operation REI changed the estimated salvage to $28,000. Assuming the Company uses the straight-line method, the amount of accumulated depreciation on the Year 6 balance sheet would be

Q4: True or False: All costs associated with a machine after it is operational are expensed in the period they are incurred. This statement is