On January 1, year 1, Bray Company purchased for P 240,000 a machine with a useful life of ten years and no salvage value. The machine was depreciated by the double-declining balance method and the carrying amount of the machine was P 153,600 on December 31, year 2. Bray changed to the straight-line method on January 1, year 3. Bray can justify the change. What should be the depreciation expense on this machine for the year ended December 31, year 3? O 15,360 O 19,200 O 30,720 O 24,000

On January 1, year 1, Bray Company purchased for P 240,000 a machine with a useful life of ten years and no salvage value. The machine was depreciated by the double-declining balance method and the carrying amount of the machine was P 153,600 on December 31, year 2. Bray changed to the straight-line method on January 1, year 3. Bray can justify the change. What should be the depreciation expense on this machine for the year ended December 31, year 3? O 15,360 O 19,200 O 30,720 O 24,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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