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The Method of Depreciation Was Changed from the Double-Declining-Balance Method

Question 122

Multiple Choice

The method of depreciation was changed from the double-declining-balance method to the straight-line method in fiscal 2022. A machine was purchased on January 1, 2020, at a cost of $150,000. The machine has an estimated useful life of 10 years and a residual value of $9,000. What adjustment is needed for fiscal 2020?


A) $14,100
B) $15,900
C) $24,000
D) $30,000

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