On January 1, Year 1, Poultry Processing Company purchased a freezer and related installation equipment...
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On January 1, Year 1, Poultry Processing Company purchased a freezer and related installation equipment for $63,300. The equipment had a three-year estimated life with a $3,000 salvage value. Straight-line depreciation was used. At the beginning of Year 3, Poultry Processing revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,000. Required Compute the depreciation expense for each of the four years, Year 1-Year 4. Year 1 Year 2 Year 3 Year 4 Depreciation Expense
On January 1, Year 1, Poultry Processing Company purchased a freezer and related installation equipment for $63,300. The equipment had a three-year estimated life with a $3,000 salvage value. Straight-fine depreciation was used. At the beginning of Year 3. Poultry Processing revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,000 Required Compute the depreciation expense for each of the four years, Year 1-Year 4
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