Journal Entry for the Year of the Change: January 1,2016

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Journal entry for the year of the change: January 1,2016
Journal entry for the year of the change: January 1,2016 Retained Earnings-Prior Period Adj. $51,000 Cumulative effect of the change: $20,000 (2014)+ $31,000 (2015)= $51,000 Retained Earnings-Prior Period Adj. $51,000
Cumulative effect of the change: $20,000 (2014)+ $31,000 (2015)= $51,000

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