Declining real estate values in the area indicate that the, Ask an Expert

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Effective January 1, 2010, the company changed the salvage value used in calculating depreciation for its office building. The building cost $600,000 on December 29, 1999, and has been depreciated on a straight-line basis assuming a useful life of 40 years and a salvage value of $100,000. Declining real estate values in the area indicate that the salvage value will be no more than $25,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M984099

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