Purpose the journal entry to record depreciation for 2013

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Reference no: EM136095

Albatross Company bought a piece of machinery for $60,000 on 1^st January, 2011 and has been depreciating the machine using the sum-of-the-years'-digits method based on a five-year evaluated useful life and no salvage value. On 1^st January, 2013, Albatross decided to switch to the straight-line technique of depreciation. The salvage value is still zero and the evaluated useful life did not change. Ignore income taxes.

1. Prepare the suitable journal entry, if any, to record this accounting change.

2. Purpose the journal entry to record depreciation for 2013.

Reference no: EM136095

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