Please help me solve this. Stacey Corp. has been deprecioting equlpment over s $10-$year life on s straight$-$line bosla. The equlpment, which coat $$24,400,$ was

purchased on $1$ Jenuery $20x.$ It hes on estimsted residuel value of $$6,100.$ On the beals of experience since scqulaition, manegement

has decided in $205$ to depreciste It over a total ife of $14$ years Inatesd of $10$ yesra, with no chenge in the estimated reaidusl value.

The change is to be effective on $1$ Jsnusry $20$X$5.$ The $205$ financial statements sre prepared on a comparsthe bas:s; $204$ and $205$

incomes before depreclstion were $$50,100$ and $$53,200,$ reapectively. Diaregard income tsx conalderationa.

Required:

$1-9.$ Anslyze the efiects af the change. $($Amounts to be deducted should be indicated by a minus sign.$)$

Answer is complete but not entirely correct.

$1-$b$.$ Which spproech should be used$-$prosectve without reststement, retroapective with partisl restatement, or retrospectlve with full

reatstement?

Answer is complete and correct.

Prepore the entry, to appropristely reflect the $205$ depreciation in the accounts for $205,$ the year of the change. If no entry ls

required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Answer is complete but not entirely correct.

Show how the sccounting change, the equipment, ond the relsted depreciaton should be reported an the $205$ financial

statements, Including comporathe $204$ resulta.

Answer is complete but not entirely correct.