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

question 122

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 adjustment is needed for fiscal 2020?

• A)$14,100
• B)$15,900
• C)$24,000
• D)$30,000

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Definitions:

Chemical Composition

The identification and quantification of the chemical elements and compounds that make up a specific material or substance.

Cell Walls

Rigid layers surrounding some types of cells, providing structural support and protection while allowing interactions with the environment.

Stains

Substances used to mark or color materials (in a biological context, often used to highlight structures in microscopy).

Microbiologic Specimen

A sample of biological material such as blood, urine, or tissue used to identify and study microorganisms like bacteria, viruses, and fungi.