BUS 253 Gonzaga Company used the double declining



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BUS 253 Gonzaga Company used the double declining

Gonzaga Company used the double declining balance method for depreciation since it started business in 2012. At the beginning of 2016, the company decided to change to the straight line method. Depreciation as reported and what it would have been reported if the company had always used the straight line is listed below.

year                                      straight line                  ddb

2012                                        32000                       64000

2013                                        35000                       50000

2014                                        39000                       58000

2015                                        39000                       48000

What journal entry, if any, should Gonzaga make to record the effect of the accounting change (ignore income taxes)? explain.