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Gonzaga Company has used the double-declining-balance method for depreciation since it started its business in 2020. At the beginning of 2024, the company decided to
Gonzaga Company has used the double-declining-balance method for depreciation since it started its business in 2020. At the beginning of 2024, the company decided to change to the straight-line method. Depreciation as reported and how it would have been reported if the company had always used straight-line is listed below: Year Straight-Line 2020 $ 32,000 $ 64,000 2021 35,000 50,000 2022 39,000 58,000 2023 39,000 48,000 DDB Required: What journal entry, if any, should Gonzaga make to record the effect of the accounting change (ignore income taxes)? Edit View Insert Format Tools Table 12pt Paragraph BIU T
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