Sandhill Company purchased a machine on January 1,2019, for $840000. At the date of acquisition,...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Sandhill Company purchased a machine on January 1,2019, for $840000. At the date of acquisition, the machine had an estimated useful life of 6 years with no salvage. The machine is being depreciated on a straight-line basis. On January 1, 2022, Sandhill determined, as a result of additional information, that the machine had an estimated useful life of 8 years from the date of acquisition with no salvage. An accounting change was made in 2022 to reflect this additional information. What is the amount of depreciation expense on this machine that should be charged in Sandhill's income statement for the year ended December 31,2022 ? $105000$168000$210000$84000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
