(Answered) Question - for financial reporting clinton poultry farms

Accounting

Question - For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2008 for $2,560,000. Its useful life was estimated to be six years with a $160,000 residual value. At the beginning of 2011, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows ($ in 000s):

Year	Straight-Line	Declining Balance	Difference
2008	$400	$853	$453
2009	400	569	169
2010	400	379	(21)
	$1,200	$1,801	$601

Required: Prepare any 2011 journal entry related to the change.

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