JFS Co Changed from Straight-Line to Double-Declining-Balance Depreciation

question 114

Multiple Choice

JFS Co. changed from straight-line to double-declining-balance depreciation. The journal entry to record the change includes:

• A) A credit to accumulated depreciation.
• B) A debit to accumulated depreciation.
• C) A debit to a depreciable asset.
• D) The change does not require a journal entry.

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Definitions:

Rock Beds

Geological formations consisting of solidified layers of mineral and rock material, often serving as a natural foundation or resource for extraction.

Confined

Being restricted within boundaries or limited in space or freedom, often referring to a physical or metaphorical constraint.

Pressure

The force exerted on the surface of an object per unit area, commonly measured in units like Pascals (Pa).

Diagram

A simplified drawing showing the appearance, structure, or workings of something; a schematic representation.