For a company using the straight-line method of depreciation that changes the estimated useful life from 20 years to 15 years as at the beginning of the year,the accountant should do (or not do)the following:

Question

Quizplus · Accepted Answer

When the estimated useful life changes, the accumulated depreciation is not adjusted. Instead, the remaining carrying amount minus residual value is depreciated over the new remaining useful life.

For a Company Using the Straight-Line Method of Depreciation That