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Category > Accounting Posted 17 May 2017 My Price 5.00

Tedesco Company changed depreciation methods in 2014

Tedesco Company changed depreciation methods in 2014 from double-declining-balance to straight-line. Depreciation prior to 2014 under double-declining-balance was $90,000, whereas straight-line depreciation prior to 2014 would have been $50,000. Tedesco’s depreciable assets had a cost of $250,000 with a $40,000 salvage value, and an 8-year remaining useful life at the beginning of 2014. Prepare the 2014 journal entries, if any, related to Tedesco’s depreciable assets.

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Alpha Geek
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Status NEW Posted 17 May 2017 01:05 PM My Price 5.00

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file 1495028487-Answer.docx preview (91 words )
T-----------ede-----------sco----------- Co-----------mpa-----------ny -----------cha-----------nge-----------d d-----------epr-----------eci-----------ati-----------on -----------met-----------hod-----------s i-----------n 2-----------014----------- fr-----------om -----------dou-----------ble------------de-----------cli-----------nin-----------g-b-----------ala-----------nce----------- to----------- st-----------rai-----------ght------------li-----------ne.----------- De-----------pre-----------cia-----------tio-----------n p-----------rio-----------r t-----------o 2-----------014----------- un-----------der----------- do-----------ubl-----------e-d-----------ecl-----------ini-----------ng------------bal-----------anc-----------e w-----------as -----------$90-----------,00-----------0, -----------whe-----------rea-----------s s-----------tra-----------igh-----------t-l-----------ine----------- de-----------pre-----------cia-----------tio-----------n p-----------rio-----------r t-----------o 2-----------014----------- wo-----------uld----------- ha-----------ve -----------bee-----------n $-----------50,-----------000-----------. T-----------ede-----------sco-----------’-----------s d-----------epr-----------eci-----------abl-----------e a-----------sse-----------ts -----------had----------- a -----------cos-----------t o-----------f $-----------250-----------,00-----------0 w-----------ith----------- a -----------$40-----------,00-----------0 s-----------alv-----------age----------- va-----------lue-----------, a-----------nd -----------an -----------8-y-----------ear----------- re-----------mai-----------nin-----------g u-----------sef-----------ul -----------lif-----------e a-----------t t-----------he -----------beg-----------inn-----------ing----------- of----------- 20-----------14.----------- Pr-----------epa-----------re -----------the----------- 20-----------14 -----------jou-----------rna-----------l e-----------ntr-----------ies-----------, i-----------f
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