Question
Wilson Co. purchased machinery for $85,000 on Jan 1, 20X1. The machine has an estimated life of 5 years and salvage value of $5,000. During
Wilson Co. purchased machinery for $85,000 on Jan 1, 20X1. The machine has an estimated life of 5 years and salvage value of $5,000. During 20X3, Wilson determines that the useful life of the machine will be 7 years rather than 5 years and the salvage value will be $3,000. Calculate revised depreciation for 20X3 assuming Wilson uses straight-line depreciation.
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Accounting An Introduction
Authors: Eddie McLaney, Peter Atrill
2nd Edition
0273655507, 978-0273655503
