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timama [110]
3 years ago
12

On January 1, 2015, Lake Co. purchased a machine for $1,056,000 and calculated depreciation using the straight-line method, with

an estimated useful life of eight years, and no salvage value. On January 1, 2018, Lake determined that the machine had a useful life of six years from the date of acquisition, and a salvage value of $96,000. An accounting change was made in 2018 to reflect these data. The accumulated depreciation for this machine should have a balance at December 31, 2018, of ________. Group of answer choices
Business
1 answer:
melamori03 [73]3 years ago
7 0

Answer:

$584,000

Explanation:

The computation of the accumulated depreciation is shown below:

But before that following calculations need to be determined

Depreciation for 3 years = $1,056,000 ÷ 8 years × 3 years

= $396,000

Now the written down value is

= $1,056,000 - $396,000 - $96,000

= $564,000

For one year it would be

= $564,000 ÷ 3

= $188,000

Now the accumulated depreciation is

= $396,000 + $188,000

= $584,000

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2 years ago
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Answer:

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8 0
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Ivory will be giving a presentation for her company to a group of potential clients visiting from Germany, and she is deciding w
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4 0
3 years ago
Bakers corp will pay a dividend of 5.15 8.05 and 11.25 per share for each of the next three years respectively. the company will
Pani-rosa [81]

Answer: $19.40

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Which approach suggests that a manager believes that employees should be involved in both defining problems and in designing the
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6 0
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