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On January 1 2017 the Hermann Company ledger shows Equipment $36000 and Accumulated Depreciation $13600 The depreciation resulted from using the straight line method with a useful life

On January 1, 2017, the Hermann Company ledger shows Equipment $36,000 and Accumulated Depreciation $13,600. The depreciation resulted from using the straight- line method with a useful life of 10 years and a salvage value of $2,000. 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.

Apr 01 2020 Read more Less More

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