Crane Corp. changed from the straight-line method to the double-declining-balance method in 2021 on all its equipment. There was no change in the salvage values or useful lives. The equipment was purchased in 2020, and the original cost was $531,000 with no salvage value and a 6-year estimated useful life. Income before depreciation expense was $624,000 in 2020 and $866,000 in 2021. Crane's tax rate is 20%. 

Prepare the journal entry to record depreciation expenses in 2021.

Answer rating: 100% (QA)

2021 Date Workings a b cab a b ccb dac a b cab dc20 ecd f a b Account Title Accumulate Depreciation ... View the full answer