Business
Business, 05.10.2020 01:01, towlesam

On January 1, 20x7, Collins Company changed the original economic life of its sugar beet harvesting machine from ten years to seven years. Collins paid 120,000 for the machine on December 31, 20x3. Collins marginal tax rate is 30%. How would Collins present this this change in accounting estimate on its 20x7 income statement A. In a disclosure note, reporting a decrease in net income of $21,000 B. In a disclosure note, reporting a decrease in net income of $9,000 C. The change would not require disclosure D. In a disclosure note, reporting a decrease in net income of $6,300

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On January 1, 20x7, Collins Company changed the original economic life of its sugar beet harvesting...

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