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Current Attempt in Progress Bridgeport Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020 under double-declining balance was $ 95,700,
Current Attempt in Progress Bridgeport Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020 under double-declining balance was $ 95,700, whereas straight-line depreciation prior to 2020 would have been $ 45,500. Bridgeport's depreciable assets had a cost of $ 235,500 with a $ 36,900 salvage value, and an 7-year remaining useful life at the beginning of 2020 Prepare the 2020 journal entry related to Bridgeport's depreciable assets (equipment). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit
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