QS 9-14 Revised depreciation-change in useful life and residual value LO4 On January 1, 2023, Kaldex Company purchased for $35,720 equipment with an estimated useful life of eight years and an estimated residual value at the end of its life of $4,200. Early in January 2026, it was determined that the total estimated useful life on the equipment should be 10 years with a revised estimated residual value of $1,570. Kaldex uses the straight-line method to calculate depreciation and its year-end is December 31. Calculate revised depreciation for 2026.

QS 9-14 Revised depreciation-change in useful life and residual value LO4 On January 1, 2023, Kaldex Company purchased for $35,720 equipment with an estimated useful life of eight years and an estimated residual value at the end of its life of $4,200. Early in January 2026, it was determined that the total estimated useful life on the equipment should be 10 years with a revised estimated residual value of $1,570. Kaldex uses the straight-line method to calculate depreciation and its year-end is December 31. Calculate revised depreciation for 2026.

Name: QS 9-14 Revised depreciation-change in useful life and residual value
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Description: QS 9-14 Revised depreciation-change in useful life and residual value LO4On January 1, 2023, Kaldex Company purchased for $35,720 equipment with an estimated useful life ofeight years and an estimated residual value at the end of its life of $4,200.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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