Use the Following Information for Questions

question 74

Multiple Choice

Use the following information for questions.
On January 1, 2009, Nobel Corporation acquired machinery at a cost of $600,000.Nobel 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 2012, a decision was made to change to the double-declining balance method of depreciation for this machine.
-The amount that Nobel should record as depreciation expense for 2012 is

• A)$60,000.
• B)$84,000.
• C)$120,000.
• D)none of the above.

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Definitions:

Boston Tea Party

A political protest that took place in 1773 in Boston, where American colonists, frustrated with British tax laws, dumped an entire shipment of tea sent by the East India Company into the harbor.

John Adams

The second President of the United States (1797-1801), a Founding Father, and a key figure in the American Revolution and the drafting of the Declaration of Independence.

Samuel Adams

An American statesman, political philosopher, and one of the Founding Fathers of the United States, known for his role in the American Revolution.

Paul Revere

An American silversmith, engraver, early industrialist, and a Patriot in the American Revolution, best known for his midnight ride to alert the colonial militia of the approaching British forces.