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Highland Corporation Has Always Used Declining-Balance Depreciation for Its Equipment

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Essay

Highland Corporation has always used declining-balance depreciation for its equipment.Beginning in 2016,the company has decided to use straight-line depreciation for all new equipment purchases.How should the company report this decision? Describe any journal entries and disclosures that need to be made for this change.


Definitions:

Emergency Department

A specialized department in a hospital that provides immediate treatment to patients with acute injuries or illnesses.

Nurse-Patient Relationship

A professional bond between nurses and their patients, characterized by trust, respect, and commitment to the patient's well-being.

Trusting Relationship

A confident belief in the reliability, truth, ability, or strength of someone, fostering a sense of security and mutual respect.

Nonverbal Communication

The transmission of messages or signals through a non-linguistic means, such as body language, facial expressions, and gestures.

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