Buffalo Company purchased a computer system for $74,050 on January 1, 2016. It was depreciated...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Buffalo Company purchased a computer system for $74,050 on January 1, 2016. It was depreciated based on a 7-year life and an $17,700 salvage value. On January 1, 2018, Buffalo revised these estimates to a total useful life of 4 years and a salvage value of $10,000. Buffalo uses straight-line depreciation. Prepare Buffalos entry to record 2018 depreciation expense
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
