9 REVISED DEPRECIATION ESTIMATES Problem 9 The December 31, 2021 balance sheet of Newberger Company...
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9 REVISED DEPRECIATION ESTIMATES Problem 9 The December 31, 2021 balance sheet of Newberger Company showed the following balances: Equipment 70,000 Accumulated depreciation:equipment 30,000 REVISED ANNUAL DEPRECIATION On January 1, 2022, the company revises the estimates on this equipment Remaining useful life Revised salvage value 4,000 3 years INSTRUCTIONS: Compute the revised annual depreciation expense for this equipment. Problem 11 CURRENT LIABILITIES 3 journal entries Problem 11 GENERAL JOURNAL 11/1/2021 Withcer Company borrowed $ 9,000 on a 6 month 5% note. Date Account Title Debit Credit INSTRUCTIONS: Prepare the journal entries to record the issuance of the note the accrual of interest at year end the payment of the note on its due date
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