Gonzaga Company has used the double-declining-balance method for depreciation since it started business in 2014. At the beginning of 2018, the company decided to change to the straight-line method. Depreciation as reported and what it would have been reported if the company had always used straight-line is listed below: Required:
What journal entry, if any, should Gonzaga make to record the effect of the accounting change (ignore income taxes)? Explain.

Question

Gonzaga Company has used the double-declining-balance method for depreciation since it started business in 2014. At the beginning of 2018, the company decided to change to the straight-line method. Depreciation as reported and what it would have been reported if the company had always used straight-line is listed below:  Required:
What journal entry, if any, should Gonzaga make to record the effect of the accounting change (ignore income taxes)? Explain.

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The Answer of Gonzaga Company has used the double-declining-balance method for depreciation since it started business in 2014. At the beginning of 2018, the company decided to change to the straight-line method. Depreciation as reported and what it would have been reported if the company had always used straight-line is listed below:  Required:
What journal entry, if any, should Gonzaga make to record the effect of the accounting change (ignore income taxes)? Explain.

Gonzaga Company Has Used the Double-Declining-Balance Method for Depreciation Since