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Tasty Treats bought bought baking equipment to mass produce baked goods for $335,000 on January 1, 20X0. The useful life is estimated at 6 years,
Tasty Treats bought bought baking equipment to mass produce baked goods for $335,000 on January 1, 20X0. The useful life is estimated at 6 years, scrap value is estimated at $15,000, total production is estimated at 660,000 units. Assume that during 20X2 the useful remained life is now determined to be seven more years(including 20X2) and the expected salvage value is $3,000. Using the straight line method provide the new depreciation journal entry that Tasty Treats will record for 20X2? Show all calculations.
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