Gonzales Company purchased a machine on January 1, year 1, for $ 600,000. On the date of…
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Gonzales Company purchased a machine on January 1, year 1, for $ 600,000. On the date of acquisition, the machine had an estimated useful life of six years with no salvage value. The machine was being depreciated on a straight-line basis. On January 1, year 4, Gonzales determined that the machine had an estimated life of eight years from the date of acquisition. An accounting change was made in year 4. What is the amount of the depreciation expense that should be recorded for the year ended year 4? a. $ 75,000 b. $ 100,000 c. $ 60,000 d. $ 0 View Solution:
Gonzales Company purchased a machine on January 1 year 1
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