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Depreciation Assignment | Custom Assignment Help

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September 6th, 2019

All assets are depreciated by the straight-line method. Shellhammer Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Mike’s proposed changes. (The “Proposed” useful life is total life, not remaining life.)

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(a)    Compute the revised annual depreciation on each asset in 2017. (Show computations.)

(b)    Prepare the entry (or entries) to record depreciation on the building in 2017.

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