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QUESTION
REVISING PERIODIC DEPRECIATION Change in estimated useful life of the assets. The change is made in the current and future years only; it is not made...
REVISING PERIODIC DEPRECIATION Change in estimated useful life of the assets. The change is made in the current and future years only; it is not made to prior periods or years. Example: Assume that barb"s florists decide on January 1, 2005 to extend the useful life of the truck one year because of its excellent condition and the company uses the straightline method to depreciate the assets to date. What is the new annual deprecation?
