ACC2363_QUIZ 2_Q #67

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School

Algonquin College *

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Course

2363

Subject

Accounting

Date

Nov 24, 2024

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pdf

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1

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11/29/23, 11:31 AM Question 67 of 100 - Quiz Two https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchId=6725a273-fdf5-482a-a475-ba3a80cb0a9f#/question/66 1/1 View Policies Show Attempt History Your answer is correct. Sheridan Corp. purchased a machine on January 1, 2020, for $908400. The machine is being depreciated on a straight-line basis, using an estimated useful life of 6 years and no residual value. On January 1, 2023, Sheridan determined, because of additional information, that the machine had an estimated useful life of 8 years from the date of acquisition with no residual value. An accounting change was made in 2023 to re±ect this additional information. What is the amount of depreciation expense on this machine that should be reported in Sheridan’s income statement for calendar 2023? $227100 $181680 $113550 $90840 eTextbook and Media Attempts: 1 of 3 used
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