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Twinkle Inc., purchased a building for $500,000 on April1. Straight-line depreciation was used for each of the first two years using the following assumptions: 20-year
Twinkle Inc., purchased a building for $500,000 on April1. Straight-line depreciation was used for each of the first two years using the following assumptions: 20-year estimated useful life, with a residual value of $150,000
a. What was the adjustment amount needed in year 1?
b. What was the adjustment amount needed in year 2?
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