On January 1, 2015, Missoula Corporation bought machinery for $800,000. They used double declining balance depreciation for
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On January 1, 2015, Missoula Corporation 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 2018, Missoula decided to change to the straight-line method of depreciation for this equipment, and treated the change as a change in estimate. For calendar 2018, the depreciation expense for this machinery is
- $ 75,050.
- $ 92,500.
- $ 27,500.
- $100,000.
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood
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