Dickinson Corporation-A partial trial balance of Dickinson Corporation is as follows on December 31, 2012.

1.

Depreciable asset A was purchased January 2, 2009. It originally cost $460,000 and, for depreciation purposes, the straight-line method was originally chosen. The asset was originally expected to be useful for 10 years and have a zero .justanswer.com/multiple-problems/8csjm-need-help-two-intermediate-accounting-questions.html#”>salvagevalue. In 2012, the decision was made to change the depreciation method from straight-line to sum-of-the-years’ digits, and the estimates relating to useful life and salvage value remained unchanged.

2.

Depreciable asset B was purchased January 3, 2008. It originally cost $244,500 and, for depreciation purposes, the straight-line method was chosen. The asset was originally expected to be useful for 15 years and have a zero salvage value. In 2012, the decision was made to shorten the total life of this asset to 9 years and to estimate the salvage value at $2,700.

3.

Depreciable asset C was purchased January 5, 2008. The asset’s original cost was $122,300, and this amount was entirely expensed in 2008. This particular asset has a 10-year useful life and no salvage value. The straight-line method was chosen for depreciation purposes.

1.

Income in 2012 before .justanswer.com/multiple-problems/8csjm-need-help-two-intermediate-accounting-questions.html#”>depreciationexpense amounted to $424,000.

2.

Depreciation expense on assets other than A, B, and C totaled $54,400 in 2012.

3.

Income in 2011 was reported at $409,000.

4.

Ignore all income tax effects.

5.

101,400 shares of common stock were outstanding in 2011 and 2012.

(a)

No.

Account Titles and Explanation

Debit

Credit

1.

2.

3.

(To correct equipment expensed.)

(To record depreciation.)