Business, 30.03.2021 17:50 1031kylepoe03

For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2018 for $2,560,000. Its useful life was estimated to be six years with a $160,000 residual value. At the beginning of 2021, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows: Year Straight-Line Declining Balance Difference
2010 $400 $853 $453
2011 400 569 169
2012 400 379 (21)
$1,200 $1,801 $601

Required:
Prepare any 2013 journal entry related to the change.

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For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation...