Solved: On january 1 2017 the blossom company ledger shows, Accounting Basics

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On january 1 2017 the blossom company ledger shows

Question - On January 1, 2017, the Blossom Company ledger shows Equipment $48,700 and Accumulated Depreciation $18,200. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $3,200. 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: On january 1 2017 the blossom company ledger shows

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