Current Attempt in Progress Windsor Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020 under double-declining-balance was $92,400, whereas straight-line depreciation prior to 2020 would have been $53,600. Windsor's depreciable assets had a cost of $266,600 with a $36,500 salvage value, and an 9-year remaining useful life at the beginning of 2020. Prepare the 2020 journal entry related to Windsor's depreciable assets (equipment). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Current Attempt in Progress Windsor Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020 under double-declining-balance was $92,400, whereas straight-line depreciation prior to 2020 would have been $53,600. Windsor's depreciable assets had a cost of $266,600 with a $36,500 salvage value, and an 9-year remaining useful life at the beginning of 2020. Prepare the 2020 journal entry related to Windsor's depreciable assets (equipment). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 9P: During 2019, Ryel Companys controller asked you to prepare correcting journal entries for the...
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Qd 259.
![Current Attempt in Progress
Windsor Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020
under double-declining-balance was $92,400, whereas straight-line depreciation prior to 2020 would have been $53,600. Windsor's
depreciable assets had a cost of $266,600 with a $36,500 salvage value, and an 9-year remaining useful life at the beginning of 2020.
Prepare the 2020 journal entry related to Windsor's depreciable assets (equipment). (Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Account Titles and Explanation
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7f160f1b-d125-4cf2-9b01-27d1eef1b8b8%2F694011b7-8216-4d8a-84cf-f74f9ff3e035%2Fp7zttwa_processed.png&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
Windsor Company changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020
under double-declining-balance was $92,400, whereas straight-line depreciation prior to 2020 would have been $53,600. Windsor's
depreciable assets had a cost of $266,600 with a $36,500 salvage value, and an 9-year remaining useful life at the beginning of 2020.
Prepare the 2020 journal entry related to Windsor's depreciable assets (equipment). (Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Account Titles and Explanation
Debit
Credit
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