Powell Manufacturing purchased machinery for $300,000 at the beginning of 2009. A six-year life was estimated and
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Powell Manufacturing purchased machinery for $300,000 at the beginning of 2009. A six-year life was estimated and no residual value was anticipated. Straight-line depreciation is used. At the beginning of 2011, the estimated useful life was revised to 10 years in total. What type of accounting change is this? Determine depreciation for 2011.
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This is a change in accounting estimate When an estimate is revised as new in...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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