Asked by
Deanna Brzowski
on Oct 15, 2024Verified
A machine originally had an estimated useful life of 6 years,but after 4 complete years,it was decided that the original estimate of useful life should have been 10 years.At that point the remaining cost to be depreciated should be allocated over the remaining:
A) 2 years.
B) 4 years.
C) 6 years.
D) 16 years.
E) 10 years.
Estimated Useful Life
The expected period over which an asset is estimated to be usable, impacting its depreciation calculation.
Depreciated
The process of allocating the cost of a tangible asset over its useful life, reflecting its decrease in value over time.
Remaining Cost
The costs that have not yet been incurred or allocated in the production of goods and services, often considered in future budgeting or cost analysis.
- Calculate depreciation expenses using different methods, including the impact of changes in asset estimates (useful life and salvage value).
Verified Answer
TA
Learning Objectives
- Calculate depreciation expenses using different methods, including the impact of changes in asset estimates (useful life and salvage value).