On January 1, 2020, Vancouver Shipping Corporation (VSC) bought machinery for $800,000. They used double-declining-balance depreciation for
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On January 1, 2020, Vancouver Shipping Corporation (VSC) bought machinery for $800,000. They used double-declining-balance depreciation for this asset, with an estimated life of eight years and an estimated $200,000 residual value. At the beginning of 2023, VSC decided to change to the straight-line method of depreciation for this equipment, and treated the change as a change in estimate. What would the depreciation expense for this machinery amount to for calendar year 2023?
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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