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PPE Depreciation Wilma's Wicker Furniture purchased a laser-guided mitre saw on January 1, 2020 at a cost of $20,000. De
Posted: Fri Jul 01, 2022 8:39 am
by answerhappygod
- Ppe Depreciation Wilma S Wicker Furniture Purchased A Laser Guided Mitre Saw On January 1 2020 At A Cost Of 20 000 De 1 (126.27 KiB) Viewed 27 times
PPE Depreciation Wilma's Wicker Furniture purchased a laser-guided mitre saw on January 1, 2020 at a cost of $20,000. Depreciation for 2020 and 2021 was based on an estimated 8-year useful life and $4,000 estimated residual value. On January 1, 2022, Wilma's revised its estimates and now believes the laser mitre saw will have a total service life of an additional three years but the residual value will be only $2,000. Wilma's uses the double-declining balance method to depreciate all assets. Wilma's Wicker Furniture has a December 31 year end. Required: Calculate the following items (provide supporting calculations in the workspace below): Time left 1:17:43 2020 depreciation expense: $ 2021 depreciation expense: $ Carrying value at December 31, 2021: $ Revised 2022 depreciation expense: $