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What journal entry to record effect of the accounting change

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Question - Gonzaga Company used the double declining balance method for depreciation since it started business in 2012. At the beginning of 2016, the company decided to change to the straight line method. Depreciation as reported and what it would have been reported if the company had always used the straight line is listed below.

year

straight line

ddb

2012

32000

64000

2013

35000

50000

2014

39000

58000

2015

39000

48000

What journal entry, if any, should Gonzaga make to record the effect of the accounting change (ignore income taxes)? Explain.

Reference no: EM132067634

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