On january 1, year 7, colorado corp. purchased a machine having an estimated useful life of 8 years and no salvage value. the machine was depreciated by the double-declining-balance (ddb) method for both financial statement and income tax reporting. on january 1, year 9, colorado justifiably changed to the straight-line method for both financial statement and income tax reporting. accumulated depreciation at december 31, year 8, was $525,000. if the straight-line method had been used, the accumulated depreciation at december 31, year 8, would have been $300,000. the retroactive adjustment to the accumulated depreciation account on january 1, year 9, as a result of the change in depreciation method is a. $225,000
b. $525,000
c. $300,000
d. $0

D) $0

Explanation:

The depreciation method changed, but the previous depreciation expense has already been recorded and subject to taxes. Therefore the new straight line depreciation should start with the remaining asset value and calculate the depreciation expense for the remaining 6 years:

For example, if the purchase value was $1,200,000 (= $300,000 x 4), the remaining value would be $675,000 then the depreciation expense will be $112,500 per year during the next 6 years starting on year 9.

fractionally backed paper money

fiat money

paper money

metallic money

the correct answer is - no.

winnipeg, canada, is not further away from the equator than moscow, russia, in fact moscow is the city that is further away from the equator. moscow is on a latitude of 55.7558° north, while winnipeg is on a latitude of 49.8951° north, thus putting moscow by 5.8607° further away from the equator than winnipeg is.