Wolff Corp. purchases a delivery truck on 1/01/2018. Its full acquisition cost is $50,000. Behrend...
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Wolff Corp. purchases a delivery truck on 1/01/2018. Its full acquisition cost is $50,000. Behrend estimates that the truck will have a 5-year service life and a residual value of $10,000.
Question 17 2 pts Assume that Wolff uses straight-line depreciation and that during 2020, management changes its estimate of total service life from 5 to 8 years and revises the estimate of residual value from $10,000 to $4,000. Depreciation expense recognized in 2020 is: $8,000 $4.000 $5,000 $12,000
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