Homework Answers
Annual depreciation = (79200-16000)/5 = $12640
Net book value on jan 1, 2023 = 79200 - 12640*2 - 12640*9/12 = $44440
Revised depreciation for 2023 = (44440-8800)/(4.25)
= $8386
| Date | Accounts | Debit | Credit |
| December 31, 2023 | Depreciation expense | 8386 | |
| Accumulated depreciation | 8386 | ||
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