On December 31, 2010, before the books were closed, the management and accountants of Hopkins Inc. made the following determinations about one depreciable assets: Depreciable asset A was purchased on January 1, 2008. It originally costs $480,000 and, for depreciation purposes, the double-declining-balance method was originally chosen. The asset was originally expected to be useful for 5 years and have a zero salvage value. On January1, 2010, decision was made to change the depreciation method from the double-declining-balance method to the straight-line method, and the estimates relating to useful life and salvage value remained unchanged. Required: Describe other accounting procedures needed under this approach including the appropriate footnote disclosures