Norton Company Owns a Machine That Was Bought on January

question 45

Multiple Choice

Norton Company owns a machine that was bought on January 2, 2009, for $376,000. The machine was estimated to have a useful life of 5 years and a salvage value of $24,000. Norton uses the sum-of-the-years'-digits method of depreciation. At the beginning of 2012, Norton determined that the useful life of the machine should have been 4 years and the salvage value $35,200. For the year 2012, Norton should record depreciation expense on this machine of

• A) $19,200
• B) $44,400
• C) $59,200
• D) $70,400

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