How management agrees to accept lindy proposed changes

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Reference no: EM132476730

Lindy Weink, the new controller of Cullumber Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2017. (Depreciation for 2017 has not been recorded yet.) Her findings are as follows:

Total Useful Life in

Years Residual Value Type of Asset

Date Acquired Cost Current Proposed Current

ProposedBuilding Jan. 1, 2002 $800,340 22 31 $39,580 $60,440

Equipment Jan. 1, 2015 125,000 5 4 4,500 3,600

Question 1: After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method. Cullumber Company has a December 31 year end.

Reference no: EM132476730

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