Solution-Residual value were changed

Residual value were changed

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1.At the beginning of 2011, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. Depreciation for 2011 and 2012 was calculated using the straight line method, a 25 year useful life, and a $1 million residual value. In 2013, the estimates of useful life and residual value were changed to 20 years and $500,000, respectively. What is depreciation on the building for 2013?

Reference no: EM13881839

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Residual value were changed : 1.At the beginning of 2011, Robotics Inc. acquired a manufacturing facility for $12 million.

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Residual value were changed

Reference no: EM13881839

Reference no: EM13881839

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