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or financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor...

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Accounting

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or financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired t the beginning of 2015 for $3,250,000. Its useful life was estimated to be five years, with a $240,000 residual value. At the beginning f 2018, Clinton decides to change to the straight-ine method. The effect of this change on depreciation for each year is as follows: ($ in 000s) Year Straight Line Declining Balance Difference 2015 2016 2017 $1,300 780 468 $2,548 698 178 (134) $ 742 $ 602 602 602 $1,806 Required: 2. Prepare any 2018 journal entry related to the change. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record depreciation expense entry for 2018. Note: Enter debits before credits. General Journal Debit Credit Event expense Accumulated depreciation K Prev18 of 21 Next

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