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