Ask Experts Questions for FREE Help !
Ask
    chevychev's Avatar
    chevychev Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Jan 30, 2011, 04:26 PM
    Assets useful life
    When the estimate of an assets useful life is changed,
    a) depreciation exp for all past periods must be recalculated.
    b) there is no change in the amount of depreciation exp recorded for future yrs
    c) only the depreciation exp in the remaining yrs is changed
    d) none of the above are true
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Jan 30, 2011, 05:59 PM

    What do you think the answer is?
    chevychev's Avatar
    chevychev Posts: 6, Reputation: 1
    New Member
    		  
    #3

    Jan 31, 2011, 09:31 AM
    Um I'm thinking u must have too much time on your hands, if your going to write, "what do you think the answer is?" how about getting a social life lol! Your too funny!
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #4

    Jan 31, 2011, 09:45 AM

    We are here to assist you, not do do your work for you. I will tell you that D is not the right answer and that when you change the useful life of an asset you have to recalculate depreciation for the remaining useful life of the asset.
    So you should be able to figure your problem out, now.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Return on assets (total assets at December 31, 2008, was $200,000) [ 4 Answers ]

Determine the amount of total assets, current assets noncurrent assets [ 1 Answers ]

Determine the amount of total assets, current assets, and noncurrent assets at the end of the period, given the following data: Current liability, ending balance $50,000 Current ratio, ending 1:6:1 Owners’ equity, beginning balance $120,000 Inventory, beginning balance $ 35,000 ...

How to I determine the current assets when all I have is total assets and ratios [ 6 Answers ]

The current asset section of the balance sheet consists of cash, marketable securities, accounts receivables, and inventories. The December 31 balance sheet revealed the following: Inventories $ 840,000 Total Assets $2,800,000 Current Ratio 2.25 Acid-Test Ratio 1.2 Debt to...

Is patents ( Intangible assets) added in total assets on balance sheet [ 2 Answers ]

Is the patents (Intangible assest)amount added to the current assets amount on a balance sheet. Help Thanks

View more questions Search