San Diego State University Operations And Supply Chain Management Assignment Help - Equipments
Question - Change in Estimateâ€”Depreciation Thurber Co. purchased equipment for $710,000 which was
estimated to have a useful life of 10 years with a salvage value of $10,000 at the end of that time.
Depreciation has been entered for 7 years on a straight-line basis. In 2011, it is determined that the
total estimated life should be 15 years with a salvage value of $4,000 at the end of that time.
(a) Prepare the entry (if any) to correct the prior yearsâ€™ depreciation.
(b) Prepare the entry to record depreciation for 2011.
Solution Preview - No Solution Preview Available