Equipment was purchased at the beginning of 2016 for $1,700,000. At the time of its purchase, the equipment was estimated to have a useful life of six years and a salvage value of $200,000. The equipment was depreciated using the straight-line method of depreciation through 2018. At the beginning of 2019, the estimate of useful life was revised to a total life of ten years (from the beginning Jan 1, 2016) and the expected salvage value was changed to $50,000.

9. The amount to be recorded for depreciation for 2019, reflecting these changes in estimates, is $??

EXACT AMOUNT - DON'T ROUND

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On January 1, 2016, Lake Co. purchased a machine for $1,980,000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. On January 1, 2019, Lake determined that the machine had a useful life of six years from the date of acquisition and will have a salvage value of $180,000. An accounting change was made in 2019 to reflect these additional data.

10. The accumulated depreciation for this machine should have a balance at December 31, 2019 of $??

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On January 1, 2016, Neal Corporation acquired equipment at a cost of $840,000. Neal adopted the sum-of-the-years'-digits method of depreciation for this equipment and had been recording depreciation over an estimated life of eight years, with no residual value. At the beginning of 2019, a decision was made to change to the straight-line method of depreciation for this equipment. No change in total estimated life of 8 years

total (from Jan 1, 2016 to Dec 31, 2023)

11. The depreciation expense for 2019 would be $??

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Hager Company sold some of its plant assets during 2018. The original cost of the plant assets was $900,000 and the accumulated depreciation at date of sale was $840,000. The proceeds from the sale of the plant assets were $90,000. The information concerning the sale of the plant assets should be shown on Hager's statement of cash flows (indirect method) for the year ended December 31, 2018, as a(n)

12. Subtraction from net income of $??

13. A $________ increase in cash flows from investing activities

Lindsay Corporation had net income for 2018 of $3,000,000. Additional information is as follows:

Depreciation of plant assets $1,200,000

Amortization of intangibles 240,000

Increase in accounts receivable 420,000

Increase in accounts payable 540,000

14. Lindsay's net cash provided by operating activities for 2018 was $??