On January 1, 2016, Pharoah Corporation acquired machinery at a cost of $1210000. Pharoah adopted...
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Accounting
On January 1, 2016, Pharoah Corporation acquired machinery at a cost of $1210000. Pharoah adopted the double-declining balance method of depreciation for this machinery and had been recording depreciation over an estimated useful life of 10 years, with no residual value. At the beginning of 2019, a decision was made to change to the straight-line method of depreciation for the machinery. The depreciation expense for 2019 would be
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