For financial reporting. clinton poultry farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2015 for $2,560,000. its useful life was estimated to be six years with a $160,000 residual value. at the beginning of 2018. clinton decides to change to the straight-line method. the effect of this change on depreciation for each year is as follows: ($ in thousands) year straight-line declining balance difference 2015 $ 400 $ 853 $453 2016 400 569 169 2017 400 379 (21) $1,200 $1,801 $601 required: 1. briefly describe the way clinton should report this accounting change in the 2017-2018 comparative financial statements. 2. prepare any 2018 journal entry related to the change.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

If u don't know the answer, always guess "c"

Acapitalist economy is when all goods are owned by the government or private industries.