The Peridot Company purchased machinery on January 2 , 2 0 2 2 , for $ 9
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Question:
The Peridot Company purchased machinery on January for $ A fiveyear life was estimated and no residual value was anticipated. Peridot decided to use the straightline depreciation method and recorded $ in depreciation in and Early in the company revised the total estimated life of the machinery to eight years.
Required:
What type of change is this?
Is Peridot required to revise prior years financial statements as a result of the change?
Is Peridot required to provide a disclosure note to report the change?
Determine depreciation for
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date: