Weaver Textiles Inc. has used the straight-line method to depreciate its equipment since it started business in 2009. At the beginning of 2013, the company decided to change to the double-declining-balance (DDB) method. Depreciation as reported and as it would have been reported if the company had always used DDB is listed below: Required:
What journal entry, if any, should Weaver make to record the effect of the accounting change (ignore income taxes)? Explain.

Question

Weaver Textiles Inc. has used the straight-line method to depreciate its equipment since it started business in 2009. At the beginning of 2013, the company decided to change to the double-declining-balance (DDB) method. Depreciation as reported and as it would have been reported if the company had always used DDB is listed below:  Required:
What journal entry, if any, should Weaver make to record the effect of the accounting change (ignore income taxes)? Explain.

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The Answer of Weaver Textiles Inc. has used the straight-line method to depreciate its equipment since it started business in 2009. At the beginning of 2013, the company decided to change to the double-declining-balance (DDB) method. Depreciation as reported and as it would have been reported if the company had always used DDB is listed below:  Required:
What journal entry, if any, should Weaver make to record the effect of the accounting change (ignore income taxes)? Explain.