Ch10 Memo Assignment v3 (3).docx - Memo Assignment Chapter 10 Plant Assets Change in Estimate You are the accountant for a small business On January 2

Ch10 Memo Assignment v3 (3).docx - Memo Assignment Chapter...

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Memo Assignment Chapter 10 Plant Assets Change in Estimate You are the accountant for a small business. On January 2, 2014, the business purchased a large piece of equipment for $1,000,000. At that time, you used straight line depreciation, with no salvage value to depreciate the equipment over 15 years. It is now January 2, 2018 and you realize that your estimate on the useful life was inaccurate. You now estimate that the equipment will only be useful for 10 years from the date of acquisition. Write a memo to the President, Janet Brown, describing how this change will affect the 2018 financial
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