Evaluate what type of accounting change and describe any

Assignment Help Accounting Basics
Reference no: EM13595863

At the beginning of 2003, Sam corp. purchased office equipment at a cost of $1,200,000. Its useful life was estimated to be ten years with no salvage value. The equipment has been depreciated by the sum-of-the-years digits method. On January 1, 2009, the company changed to the straight-line method.

Evaluate what type of accounting change and describe any steps that should be taken to appropriately report the situation and also what journal entries should document the change?

Reference no: EM13595863

Questions Cloud

On december 31 2004 the account unearned rent revenue had a : on december 31 2004 the account unearned rent revenue had a balance of 3300 on the books of joliet corporation after
In the first 150 s of the reaction 17times10-2nbspmol : consider the following reaction2n2og rarr 2n2g o2gin the first 15.0 s of the reaction 1.7times10-2nbspmol o2nbspis
A company has the choice of either selling 1000 defective : a company has the choice of either selling 1000 defective units as scrap or rebuilding them. the company could sell the
Question what is the rate of the following reaction ms if : question what is the rate of the following reaction ms if the rate constant for the reaction is 0.800 lbullmol-1bulls-1
Evaluate what type of accounting change and describe any : at the beginning of 2003 sam corp. purchased office equipment at a cost of 1200000. its useful life was estimated to be
Two substances a and b have identical enthalpies of : two substances a and b have identical enthalpies of vaporization. they boil at 164 degree celsius and 236 degree
A reaction has a rate constant of 128times10-4 s at 27 c : a reaction has a rate constant of 1.28times10-4 s at 27 c and 0.232 s at 27c and .231 s 77 at c.?what is the activation
Assume cash paid to suppliers for the current year is : assume cash paid to suppliers for the current year is 350000 merchandise inventory increased by 5000 during the year
A hydrogen atom initially in the n7 quantum state emits a : a hydrogen atom initially in the n7 quantum state emits a photon having a wavelength of 2.16495e-6 m. what is the

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd