Early in 2011 the company changed its depreciation method, Ask an Expert

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The Canliss Milling Company purchased machinery on January 2, 2009, for $800,000. A five-year life was estimated and no residual value was anticipated. Canliss decided to use the straight-line depreciation method and recorded $160,000 in depreciation in 2009 and 2010. Early in 2011, the company changed its depreciation method to the sum-of-the-years'-digits (SYD) method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M953624

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