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Weaver Textiles Inc. has used the straight-line method to depreciate its equipment since it started business in 2014. At the beginning of 2018, the company
Weaver Textiles Inc. has used the straight-line method to depreciate its equipment since it started business in 2014. At the beginning of 2018, the company decided to change to the double-declining-balance (DDB) method. Depreciation as reported and as it would have been reported if the company had always used DDB is listed below:
| Year | Straight-Line | DDB | |||||
| 2014 | $ | 22,500 | $ | 45,000 | |||
| 2015 | 25,000 | 40,000 | |||||
| 2016 | 28,000 | 38,000 | |||||
| 2017 | 28,000 | 32,000 | |||||
Required: What journal entry, if any, should Weaver make to record the effect of the accounting change
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