1. Business
  2. Accounting
  3. please full calculation and explanation...

Question: please full calculation and explanation...

Question details

2. Calculate the amount of depreciation to Ue Zambonis revised useful life. Exercise 9-17 Revising depreciation rates-change in useful life and residual value LO4 CHECK FIGURE: Revised depreciation = $7,624 n April 3, 2017, Davids Chocolates purchased a machine for $71,200. It was assumed that the machine would have a five-year life and a $15,200 trade-in value. Early in January 2020, it was determined that the achine would have a seven-year useful life and the trade-in value would be $8,000. Davids Chocolates uses the straight-line method to the nearest month for calculating depreciation. Record depreciation at December 31, 2020, Davids Chocolates year-end. Round to the nearest whole dollar. uhsequent capital expenditure LO2,4

Please full calculation and explanation.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution