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Venice Company purchased a gondola for $444,950 (no residual value) at the beginning of 2018....

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Accounting

Venice Company purchased a gondola for $444,950 (no residual value) at the beginning of 2018. The gondola was being depreciated over a 10-year life using the sum-of-the-years'-digits method. At the beginning of 2021, it was decided to change to straight-line. Ignoring taxes, the 2021 adjusting entry will include a debit to depreciation expense of:

Multiple Choice

A. $21,843

B. $44,495

C. $32,360

D. $22,652

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