Exhibit 22-2 on January 1, 2015, Nathan, Inc

Exhibit 22-2 On January 1, 2015, Nathan, Inc. purchased a machine for $56,000. Eight-year, straight-line depreciation with no salvage value was used through December 31, 2016. On January 1, 2017, it was estimated that the total useful life of the machine from acquisition date was ten years.

-Refer to Exhibit 22-2. The adjusting entry that should be made on January 1, 2017, will be in the amount of

A) $6,000
B) $3,600
C) $2,400
D) $ 0

Correct Answer:

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