Cameron Co. began operations on January 1, 2008, at which time it acquired depreciable assets of $100,000. The assets have an estimated useful life of ten years and no salvage value.
In 2011, Cameron Co. changed from the sum-of-the-years'-digits depreciation method to the straight-line depreciation method.
Required:
Determine the depreciation expense for 2011 and prepare the appropriate journal entry.

Question

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The Answer of Cameron Co. began operations on January 1, 2008, at which time it acquired depreciable assets of $100,000. The assets have an estimated useful life of ten years and no salvage value.
In 2011, Cameron Co. changed from the sum-of-the-years'-digits depreciation method to the straight-line depreciation method.
Required:
Determine the depreciation expense for 2011 and prepare the appropriate journal entry.