On January 1, 2002, Elora Karim Inc. changed from the straight-line method of depreciation to the declining-balance

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On January 1, 2002, Elora Karim Inc. changed from the straight-line method of depreciation to the declining-balance method. The cumulative effect of the change was to increase the prior years' depreciation by \($40,000\) and 2002 depreciation by $8,000.

Show the change in accounting principle section of the 2002 income statement, assuming the tax rate is 30%.

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Managerial Accounting Tools For Business Decision Making

ISBN: 9780471413653

2nd Canadian Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly

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