The December 31 2016 balance sheet of Jensen Company showed Equipment of $76000 and Accumulated Depreciation of $18000. On January 1 2017 the company decided that the equipment has a remaining useful life of 6 years with a $4000 salvage value.
Instructions
Compute the (a) depreciable cost of the equipment and (b) revised annual depreciation.
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(b) Revised an...
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