Solved: Holt now feels the computer will be used until december 31, Accounting Basics

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Holt now feels the computer will be used until december 31

1. Holt Company purchased a computer for $8,000 on January 1, 2009. Straight-line depreciation is used, based on a 5-year life and a $1,000 salvage value. In 2011, the estimates are revised. Holt now feels the computer will be used until December 31, 2012, when it can be sold for $500. Compute the 2011 depreciation.

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Accounting Basics: Holt now feels the computer will be used until december 31

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