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On January 1 , 2 0 2 2 , Cullumber Corporation acquired machinery for $ 1 6 1 0 0 0 0 . Cullumber adopted
On January Cullumber Corporation
acquired machinery for $
Cullumber adopted the straightline method
of depreciation for this machine and had
been recording depreciation over an
estimated life of ten years, with no residual
value. At the beginning of a decision
was made to change to the doubledeclining
balance method of depreciation for this
machine.
Assuming a tax rate, the cumulative
effect of this accounting change on beginning
retained earnings, is
$
$
$
$
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