On January 1, 2007, Flax Co. purchased a machine for 528,000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. On January 1, 2010, Flax determined that the machine had a useful life of six years from the date of acquisition and will have a salvage value of 48,000. An accounting change was made in 2010 to reflect these additional data. The accumulated depreciation for this machine should have a balance at December 31, 2010 of a.292,000 b.308,000 c.320,000 d.352,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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On January 1, 2007, Flax Co. purchased a machine for 528,000 and depreciated it by the straight-line method using an estimated
useful life of eight years with no salvage value. On January 1, 2010, Flax determined that the machine had a useful life of six years

from the date of acquisition and will have a salvage value of 48,000. An accounting change was made in 2010 to reflect these additional data. The accumulated depreciation for this machine should have a balance at December 31, 2010 of
a.292,000
b.308,000
c.320,000
d.352,000

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