Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 442 Weeks Ago, 5 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 18 Jun 2017 My Price 6.00

DAVIS corporation discovered errors in its inventory taking procedures that have caused

In reviewing the December 31 2014, inventory, DAVIS corporation discovered errors in its inventory taking procedures that have caused inventories for the last three years to be incorrect as follows

a) Is this a change in accounting principle, a change in accounting estimate or an error in the financial statement?

b)  What is the proper accounting treatment for this situation? Cite the authoritative guidance.    

c)      What journal entry would be appropriate at  Ignore tax implications.

 

 

a)      What 

Answers

Alpha Geek
(8)
Status NEW Posted 18 Jun 2017 06:06 AM My Price 6.00

-----------

Attachments

file 1497767684-596986_1_1.docx preview (337 words )
#-----------3 -----------Is -----------thi-----------s a----------- ch-----------ang-----------e i-----------n a-----------cco-----------unt-----------ing----------- pr-----------inc-----------ipl-----------e, -----------a c-----------han-----------ge -----------in -----------acc-----------oun-----------tin-----------g e-----------sti-----------mat-----------e o-----------r a-----------n e-----------rro-----------r i-----------n t-----------he -----------fin-----------anc-----------ial----------- st-----------ate-----------men-----------t? ----------- Si-----------nce----------- in-----------ven-----------tor-----------y v-----------alu-----------es -----------hav-----------e b-----------een----------- in-----------cor-----------rec-----------tly----------- st-----------ate-----------d, -----------the-----------se -----------are----------- an----------- er-----------ror----------- W-----------hat----------- is----------- th-----------e p-----------rop-----------er -----------acc-----------oun-----------tin-----------g t-----------rea-----------tme-----------nt -----------for----------- th-----------is -----------sit-----------uat-----------ion-----------? C-----------ite----------- th-----------e a-----------uth-----------ori-----------tat-----------ive----------- gu-----------ida-----------nce-----------. -----------. F-----------ASB----------- St-----------ate-----------men-----------t N-----------o. -----------154----------- re-----------qui-----------res----------- th-----------at -----------a c-----------omp-----------any----------- ac-----------cou-----------nt -----------for----------- th-----------e c-----------orr-----------ect-----------ion----------- of----------- ma-----------ter-----------ial----------- er-----------ror----------- ma-----------de -----------in -----------pre-----------vio-----------us -----------per-----------iod-----------s a-----------s a----------- pr-----------ior----------- pe-----------rio-----------d r-----------est-----------ate-----------men-----------t
Not Rated(0)