The Method of Depreciation Was Changed from the Double-Declining-Balance Method

question 30

Multiple Choice

The method of depreciation was changed from the double-declining-balance method to the straight-line method in fiscal 2022. A machine was purchased on January 1, 2020 at a cost of $150,000. The machine has an estimated useful life of 10 years and a residual value of $9,000. What should have been booked as depreciation expense in fiscal 2021?

• A)$9,900
• B)$14,100
• C)$24,000
• D)$30,000

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