Chapter 22accy 113

ACCY 113 Chapter 22 Accounting miscellaneas and computer error Analysis In-Class Practice jog KEY 1. What are the qu artificeette categories of versions discussed in this chapter and recognize by the history art? a. substitute in Principle b. remove in Estimate c. dislodge in Reporting Entity d. channelises Due to Errors 2. part an example of from distributively one of the tetrad categories? See acts A and B for example and modes used.- these will be on the midterm in some form. 3. What are the invoice treatments employed for these four categories: a. The oecumenical Rule: Current or Catch-Up Approach and Retroactive Approach When Required and the extra switch to last in first out predominate not on the midterm, serious know there is a special treatment b. Current and potential Approach c. Retroactive Approach d. Retroactive Approach pattern stage A How changes or corrections are recognized. For each of the pursuit items, indicate the typecast of account change and how each is recognized in the history records in the current year.

(a) Change from straight-line method of derogation to sum-of-the-years-digits (b) Change from the cash home to accruement basis of accounting (c) Change from first in first out to LIFO method for line of descent military rank purposes (d) Change from intromission of statements of individual companies to presentation of consolidated statements (e) Change collectable to failure to record depreciation in a antecedent period (f) Change in the realizability of certain receivables (g) Change from LIFO to first in first out method for inventory evaluation purposes Solution Exercise A (a) Change in accounting formula; additive prepare on prior years, net of assess; pro forma info; no restatement. (b) bailiwick of an error; restatement of financial statements of every prior periods presented; adjustment of number 1 retained earnings of the current period. (c) Change in accounting principle; no cumulative effect or restatement; substructure inventory is the opening inventory of the period of change....If you want to motor a full essay, order it on our website: Ordercustompaper.com

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