On jan 1 2010 the abc company ledger shows equipment 36000, Ask an Expert

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On Jan 1, 2010 the ABC Company ledger shows Equipment $36,000 and Accumulated Depreciation $14,000. The depreciation resulted from using straight line method with a useful life of 10 years and a salvage value of $2,000. On this date the company concludes that the equipment has a remaining useful life of two years with the same salvage value. Compute the revised annual depreciation.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M988599

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