INTERMEDIATE ACCOUNTING-MYLAB W/ETEXT
INTERMEDIATE ACCOUNTING-MYLAB W/ETEXT
3rd Edition
ISBN: 9780136946601
Author: GORDON
Publisher: PEARSON
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Chapter 21, Problem 21.6E

a.

To determine

To prepare: The journal entry to record change in depreciation method.

Given information:

Original cost of the asset is $300,000.

Estimated useful life is 5Years

Scrap value is $18,000.

Tax rate is 40%

b.

To determine

To prepare: A footnote disclosure for the change in depreciation method.

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Depreciation -MACRS; Author: Ronald Moy, Ph.D., CFA, CFP;https://www.youtube.com/watch?v=jsf7NCnkAmk;License: Standard Youtube License