Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 34

Swindall Industries uses straight-line depreciation on all of its depreciable assets.he company records annual depreciation expense at the end of each calendar year.n January 11, 2011, the company purchased a machine costing $90,000.he machine's useful life was estimated to be 12 years with an estimated residual value of $18,000.epreciation for partial years is recorded to the nearest full month.
In 2015, after almost five years of experience with the machine, management decided to revise its estimated life from 12 years to 20 years.o change was made in the estimated residual value.he revised estimate of the useful life was decided prior to recording annual depreciation expense for the year ended December 31, 2015.
a.repare journal entries in chronological order for the above events, beginning with the purchase of the machinery on January 11, 2011.how separately the recording of depreciation expense in 2011 through 2015.
b.hat factors may have caused the company to revise its estimate of the machine's useful life