On January 1, 2004, Carnival Shipping bought a machine for $1,500,000. At that time,

this machine had an estimated useful life of six years, with no salvage value. As a result of
additional information, Carnival determined on January 1, 2007, that the machine had an
estimated useful life of eight years from the date it was acquired, with no salvage value.
Accordingly, the appropriate accounting change was made in 2007. How much depreciation
expense for this machine should Carnival record for the year ended December 31, 2007,
assuming Carnival uses the straight-line method of depreciation?
I'm thinking next:
1500000/8=187500
Am I right? because I also see next
1500000/6=250000

You are on the right track with your thinking. To calculate the depreciation expense for the year ended December 31, 2007, using the straight-line method, you would divide the initial cost of the machine ($1,500,000) by the revised useful life (8 years).

So, the correct calculation would be:
$1,500,000 / 8 = $187,500

Therefore, Carnival Shipping should record a depreciation expense of $187,500 for the year ended December 31, 2007.

To determine the depreciation expense for the year ended December 31, 2007, you are correct in using the straight-line method of depreciation.

The straight-line method allocates the cost of an asset evenly over its useful life. In this case, since the machine was purchased for $1,500,000 and its estimated useful life was changed from 6 years to 8 years, you will divide the cost by the updated useful life to calculate the annual depreciation expense.

Using your calculation, $1,500,000 divided by 8 years equals $187,500. Therefore, the depreciation expense for the year ended December 31, 2007, should be $187,500.

It's important to note that if the estimated useful life remained at 6 years, the calculation would be $1,500,000 divided by 6 years, resulting in a depreciation expense of $250,000. However, since the accounting change was made in 2007 and the useful life was updated to 8 years, the updated calculation of $187,500 is the correct amount for that year.