Machinery purchased for $72,000 by Oriole Co. in 2021 was originally estimated to have a...
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Machinery purchased for $ by Oriole Co in was originally estimated to have a life of years with a salvage value of $ at the end of that time. Depreciation has been entered for years on this basis. In it is determined that the total estimated life should be years with a salvage value of $ at the end of that time. Assume straightline depreciation. a Prepare the entry to correct the prior years' depreciation, if necessary. If no entry is required, select No entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry. Account Titles and Explanation Debit Credit 
Machinery purchased for $ by Oriole Co in was originally estimated to have a life of years with a salvage value of $ at the end of that time. Depreciation has been entered for years on this basis. In it is determined that the total estimated life should be years with a salvage value of $ at the end of that time. Assume straightline depreciation.
a
Prepare the entry to correct the prior years' depreciation, if necessary. If no entry is required, select No entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.
Account Titles and Explanation
Debit
Credit
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