On January 1, HD's Catering Services purchased a hot dog stand for $36,000; it has...
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Accounting
On January 1, HD's Catering Services purchased a hot dog stand for $36,000; it has an estimated useful life of 12 years and no residual value. Suppose that after using the hot dog stand for five years and straight-line depreciation, the company determines that the stand will remain useful for only five more years. Record HD's Catering Services' depreciation expense on the hot dog stand for year 6 using the straight-line method.
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You can see the logs in the Dashboard.