On january 1, year 7, colorado corp. purchased a machine having an estimated useful life of 8 years and no salvage value. the machine was depreciated by the double-declining-balance (ddb) method for both financial statement and income tax reporting. on january 1, year 9, colorado justifiably changed to the straight-line method for both financial statement and income tax reporting. accumulated depreciation at december 31, year 8, was $525,000. if the straight-line method had been used, the accumulated depreciation at december 31, year 8, would have been $300,000. the retroactive adjustment to the accumulated depreciation account on january 1, year 9, as a result of the change in depreciation method is a. $225,000
b. $525,000
c. $300,000
d. $0
Answers: 3
Another question on Business
Business, 21.06.2019 20:40
Which of the following explains why the government sets a required reserve ratio for private banks? a. to allow the government to control the interest rate charged on loans. b. to prevent banks from printing too much money and causing inflation. c. to make sure banks don't run out of money when customers make withdrawals. d. to enable the regulation of risk levels in the decision process of offering loans. 2b2t
Answers: 1
Business, 22.06.2019 14:30
Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.
Answers: 1
Business, 22.06.2019 16:00
In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.
Answers: 1
Business, 23.06.2019 00:30
Considered to be a "super tool" or tool that has high use and high potential for improving project success?
Answers: 3
You know the right answer?
On january 1, year 7, colorado corp. purchased a machine having an estimated useful life of 8 years...
Questions
Mathematics, 13.06.2020 05:57
Mathematics, 13.06.2020 05:57
History, 13.06.2020 05:57
Computers and Technology, 13.06.2020 05:57
Mathematics, 13.06.2020 05:57
English, 13.06.2020 05:57
Mathematics, 13.06.2020 05:57
