KEC Has a Machine That Cost $75,000 (No Residual Value)that

question 1

Essay

KEC has a machine that cost $75,000 (no residual value)that was being depreciated over a 15-year estimated life, using SL.On the basis of more experience, during the 9th year, management decided to use a revised total estimate of 20 years.
(a)What kind of accounting change does this represent? _.
(b)Give entry in 9th year to reflect the change; if none is required, explain.
(c)Give the depreciation entry (year-end adjusting entry)for the 9th year.Show computations.

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Definitions:

Projective Tests

Projective tests are psychological assessments that involve presenting individuals with ambiguous stimuli, prompting them to project their own perceptions, emotions, or attitudes onto the material.

Theoretical Approach

A systematic set of ideas about a particular topic or phenomenon that guides research and practice.

Psychodynamic

A psychological perspective that emphasizes the influence of the unconscious mind on behavior, and the importance of childhood experiences.

Heritability Estimates

Statistical measures that indicate what proportion of variance in a particular trait within a population can be attributed to genetic differences.