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i need help with part B Gerald Englehart Industries changed from the double-declining balance to the straight-line method in 2018 on all its equipment. There
i need help with part B Gerald Englehart Industries changed from the double-declining balance to the straight-line method in 2018 on all its equipment. There was no change in the assets' salvage values or useful lives. Plant assets, acquired on January 2, 2015, had an original cost of $1,600,000, with a $100,000 salvage value and an 8-year estimated useful life. Income before depreciation expense was $270,000 in 2017 and $300,000 in 2018. Your answer is correct. Prepare the journal entry to record depreciation expense in 2018. (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 Depreciation Expense 115000 Accumulated Depreciation Equipment 115000 Starting with income before depreciation expense, prepare the remaining portion of the income statement for 2017 and 2018. 2018 2017 Income before depreciation expense $ Depreciation expense Net income List of Accounts Save for Later Last saved 8 minutes ago. Attempts: 0 of 3 used Submit
i need help with part B
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