The Seliger Company has a building that it originally bought for $100,000. As of December 31, 2012, there is $10,000 of Accumulated Depreciation on the building (it was being straight-line depreciated over 10 years with no salvage value). On January 1, 2013, Seliger decides to change the remaining useful life to 5 years (starting now) with a $50,000 salvage value. What will be the depreciation on the building in 2013? $20,000 $10,000 $8,000 $12,500 $13,000 O C

The Seliger Company has a building that it originally bought for $100,000. As of December 31, 2012, there is $10,000 of Accumulated Depreciation on the building (it was being straight-line depreciated over 10 years with no salvage value). On January 1, 2013, Seliger decides to change the remaining useful life to 5 years (starting now) with a $50,000 salvage value. What will be the depreciation on the building in 2013? $20,000 $10,000 $8,000 $12,500 $13,000 O C

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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