Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1,2025 , the blossom company general le

On January 1,2025 , the Blossom Company general ledger shows Equipment $48,700 and Accumulated Depreciation...

50.1K

Verified Solution

Question

Accounting

image
On January 1,2025 , the Blossom Company general 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. Revised annual depreciation

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Find articles on the Internet and discuss the differences between straight and convertible bonds and the...

Chemistry
1.2K views

2 KMnO4 + 16 HCl = 5 Cl2 + 2 KCl + 2 MnCl2 +...

Basic Math
1.2K views

25 poir Your odometer reads 4 280 miles total for your road trip to San...

Basic Math
1.2K views

Name the type of sampling study Joey could not find out how to break the...

Basic Math
1.2K views

16 Select the correct answer The Cohen family started their wheat farm in 1995 The...

Statistics
1.2K views

4 pts To estimate the mean heights which are normally distributed of female students on...

Algebra
1.2K views

5x 1 x 2 x 2 Evaluate lim O a 0 O b Does not...

Accounting
1.2K views

Smith Company purchases land, a building and equipment for $200,000. The fair values of the...

Accounting
1.2K views

2. Facilities provides the most services to the other support departments, followed closely by human...

Accounting
1.2K views

Please find the annual report including the financial statements for RR Donnelley. Using the information...

Accounting
1.2K views

Portions of the financial statements for Parnell Company are provided below. Required: Prepare the cash...

Accounting
1.2K views

1. What are the minimum requirements that need to be externally reported by a state...