Essay
On January 1,2011,Shine Services Inc.purchased a new machine for $600,000.The machine had an estimated useful life of eight years and a salvage value of $150,000.Shine elected to depreciate the machine using the double-declining-balance method.On January 1,2014,the company decided to change to straight-line depreciation.
Ignoring income tax considerations,prepare the entries to record
(1)Shine's 2013 depreciation expense.
(2)Shine's 2014 depreciation expense.
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(2)Book value at 1/1/2014: $6...View Answer
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Correct Answer:
Verified
(2)Book value at 1/1/2014: $6...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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