Entity I purchased a machine on January 1, 2022 for $60,000. It was originally depreciated on a straight-line basis over three years with no salvage value. On December 31, 2023, before adjusting entries had been made, the company decided to change the remaining estimated useful life to 8 years (including 2023). What was the depreciation expense for 2023?

		$2,500.
		$750.
		$5,000.
		$20,000.

When a company declares a cash dividend (think of the journal entry):

		Stockholders' equity decreases.
		Liabilities decrease.
		Assets decrease.
		None of the above.

When does a cash dividend become a liability of the corporation?

		at the end of the year.
		at the declaration date.
		at the payment date.
		at the record date.