Bickner Company changed depreciation methods in 2008 from double-declining-balance to straightline. Depreciation under double-declining-balance was $90,000, whereas

Question:

Bickner Company changed depreciation methods in 2008 from double-declining-balance to straightline. Depreciation under double-declining-balance was $90,000, whereas straight-line depreciation prior to 2008 would have been $50,000. Bickner’s depreciable assets had a cost of $250,000 with a $50,000 , and an 8-year remaining useful life at the beginning of 2008. Prepare the 2008 journal entries, if any, related to Bickner’s depreciable assets.

Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...