q8)

The useful life of a factory that has been depreciated for thirty years (originally estimated to have a fifty year useful life with no estimated residual value) has been revised to an estimated remaining useful life of 10 years. Based on this information, the accountant should o adjust accumulated depreciation to its appropriate balance through net income, based on a 40-year life, and then depreciate the adjusted book value as though the estimated life had always been 40 years. o adjust accumulated depreciation to its appropriate balance through retained earnings, based on a 40-year life, and then depreciate the adjusted book value as though the estimated life had always been 40 years. O continue to depreciate the building over the onginai 50-year life. O depreciate the remaining book value over the remaining life of the asset