Smith,the new controller of F Co., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2007. Here are his findings:( 20 % )All assets are depreciated by the straight-line method. F Co. uses a calendar year in preparing annual financial statement. After discussion, manager has agreed to accept Smith proposed.
1.Computer the revised annual depreciation in 2007, 12/31 for Buildings