A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes.The entry to record this change should include a
A)credit to Accumulated Depreciation.
B)debit to Retained Earnings in the amount of the difference on prior years.
C)debit to Deferred Tax Asset.
D)credit to Deferred Tax Liability.

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The Answer of A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes.The entry to record this change should include a
A)credit to Accumulated Depreciation.
B)debit to Retained Earnings in the amount of the difference on prior years.
C)debit to Deferred Tax Asset.
D)credit to Deferred Tax Liability.

A Company Changes from Straight-Line to an Accelerated Method of Calculating