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Worthington Company purchased a machine on January 1, 2008, for $3,600,000. At the date of acquisition, the machine had an estimated useful life of six years with no salvage. The machine is being depreciated on a straight-line basis. On January 1, 2011, Worthington determined, as a result of additional information, that the machine had an estimated useful life of eight years from the date of acquisition with no salvage. An accounting change was made to reflect this additional information. What amount of depreciation expense should be reported in Worthington?s income statement for the year ended December 31, 2011?;a. $600,000;b. $450,000;c. $360,000;d. $225,000


Paper#27233 | Written in 18-Jul-2015

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