plant asset is acquired by a business on January 1, 2010, for $30,000. The
asset’s estimated residual value is $8,000 and its estimated life is 5 years.
Management chooses to use straight -line depreciation. On January 1, 2012,
management revises the total useful life to 6 years and the residual value to
be zero. Compute the balance in Accumulated Depreciation on December 31, 2012.