use following information for questions 3 and 4 Use the following information...
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use following information for questions 3 and 4
Use the following information for questions and On January 1 2013. ABC Corporation acquired machinery at a cost of 5000.000. At adopted the straight-line method of depreciation for this machine and had been recording depreciation over an estimated life of ten years, with no residual value. At the beginning of 2016, a decision was made to change to the double declining balance method of depreciation for this machine Question 3) The cumulative effect of this accounting change on beginning retained earnings is S67,200 1. SO $78,960 M $112.000 QUESTION 4 On January 1, 2013. ABC Corporation acquired machinery at a cost of $600.000. ABC adopted the straight line method of depreciation for this machine and had been recording depreciation over an estimated life of ten years, with no residual value. At the beginning of 2016, a decision was made to change to the double-dedining balance method of depreciation for this machine Question 4) The amount that ABC should record as depreciation expense for 201615 560.000 $84.000
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