Include in your discussion how the change should he, Ask an Expert

Accounting

If a public company obtained additional information about the service lives of some of its fixed assets that showed that the service lives previously used should be shortened, what type of accounting change would this be? Include in your discussion how the change should he reported in the income statement of the year of the change and what disclosures should be made in the financial statements or notes.

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M948743

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question 1 company boards executives and management are

Question: 1. Company boards, executives, and management are investing more and more time and resources on issues of sustainability - such as carbon (greenhouse gas emissions), energy efficient technology, water use, clea ...

Question introduction you are a consultant hired by a

Question: Introduction: You are a consultant hired by a consumer products research company to analyze the packaging of various consumer products. Your first assignment is to go into a retail store and pick three products ...

Question - paulson company issues 6 four-year bonds on

Question - Paulson Company issues 6%, four-year bonds, on December 31, 2017, with a par value of $200,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2017 $ 13,46 ...

Question - exter co receives terms of 210 n30 on all

Question - Exter Co. receives terms of 2/10, n/30 on all invoices from Garn Industries. On January 15, 2008, Exter purchased items from Garn for $4,200, excluding taxes and shipping costs. What amount would Exter use as ...

Question - the following information relates to rem corps

Question - The following information relates to Rem Corp's accounts receivable for 2015: Accounts receivable, 1/1/15 $ 500,000 Credit sales for 2015 2,000,000 Sales returns for 2015 60,000 Accounts written off during 201 ...

Question - explain why the purchase of supplies is usually

Question - Explain why the purchase of supplies is usually recorded in the asset account rather than in an expense account. If supplies were expensed when purchased, which account should be debited and which credited at ...

Assignment 1 discussion-predicting and developing a

Assignment 1: Discussion-Predicting and Developing a Long-Term Growth Strategy To develop a strategic plan, as a nonaccounting manager, you need to analyze and link management accounting data and performance information ...

Question - lana operates a real estate appraisal service

Question - Lana operates a real estate appraisal service business in a small town serving local lenders. After noting that lenders must pay to bring in a surveyor from out of town, she completes a course and obtains a su ...

Question - dollars for dozers entity dde has a bulldozer it

Question - Dollars for Dozers Entity (DDE) has a bulldozer it acquired 3 years ago. DDE has decided to sell the dozer in its principle market located in Tennessee. DDE has decided that the dozer needs to recondition its ...

Question - a 13-year annuity pays 2800 per month and

Question - A 13-year annuity pays $2,800 per month, and payments are made at the end of each month. The interest rate is 12 percent compounded monthly for the first seven years, and 10 percent compounded monthly thereaft ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert