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On January 1, 2010, the Ewing Company ledger shows Equipment $41,529 and Accumulated Depreciation $18,279. The depreciation resulted from using the straight line method with a useful life of 10 years and a salvage value of $2,245. On this date the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value. Compute the revised annual depreciation.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M992491

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