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Ronnie's Wings acquired equipment on January 1, 2013, for $300,000. The equipment had an estimated ...

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Ronnie's Wings acquired equipment on January 1, 2013, for $300,000. The equipment had an estimated ...

Ronnie's Wings acquired equipment on January 1, 2013, for $300,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $25,000. On January 1, 2016, Ronnie's Wings revised the total useful life of the equipment to 12 years. Compute amortization expense for the year ended December 31, 2016, if Ronnie's Wings uses straight-line amortization.
A) $21,389
B) $24,167
C) $18,125
D) $16,042

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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