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: 441 Weeks Ago, 2 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 7.00

At December 31, 2014, Tyler Corporation decided to change the depreciation method

At December 31, 2014, Tyler Corporation decided to change the depreciation method on its office equipment from double-declining to straight-line. The equipment had an original cost of $500,000 when purchased on January 1, 2012. It has a 10-year useful life and no salvage value. Tyler properly recorded depreciation using the double-declining-balance method for 2012 and 2013. Tyler had already recorded 2014 depreciation expense using the double-declining-balance method when they decided to change to the straight-line method. Is this a change in accounting principle, a change in accounting estimate or an error in the financial statement? What is the proper accounting treatment for this situation? Cite the authoritative guidance. What journal entry would be appropriate at 12/31/2014? Ignore tax implications.

Answers

Alpha Geek
(8)
Status NEW Posted 18 Jun 2017 08:06 AM My Price 7.00

-----------

Attachments

file 1497775560-596978_1_sol.docx preview (224 words )
A----------- ch-----------ang-----------e i-----------n m-----------eth-----------od -----------of -----------dep-----------rec-----------iat-----------ion----------- is----------- a -----------cha-----------nge----------- in----------- ac-----------cou-----------nti-----------ng -----------pri-----------nci-----------ple-----------. -----------Acc-----------oun-----------tin-----------g t-----------rea-----------tme-----------nt -----------as -----------per----------- AS-----------C 2-----------50 ----------- Ch-----------ang-----------es -----------in -----------acc-----------oun-----------tin-----------g p-----------rin-----------cip-----------les----------- sh-----------oul-----------d g-----------ene-----------ral-----------ly -----------be -----------pre-----------sen-----------ted----------- by----------- re-----------cas-----------tin-----------g a-----------ll -----------pri-----------or -----------per-----------iod-----------s p-----------res-----------ent-----------ed -----------to -----------ref-----------lec-----------t t-----------he -----------dir-----------ect----------- ef-----------fec-----------ts -----------of -----------the----------- ne-----------w m-----------eth-----------od -----------of -----------acc-----------oun-----------tin-----------g, -----------wit-----------h t-----------he -----------cum-----------ula-----------tiv-----------e e-----------ffe-----------ct -----------of -----------the----------- ne-----------w m-----------eth-----------od -----------of -----------acc-----------oun-----------tin-----------g ----------- Jo-----------urn-----------al -----------ent-----------ry ----------- Ac-----------cum-----------ula-----------ted----------- de-----------pre-----------cia-----------tio-----------n a-----------cco-----------unt----------- â€-----------¦..-----------Dr ----------- ----------- ----------- 9-----------400-----------0 -----------To -----------Cum-----------ula-----------tiv-----------e e-----------ffe-----------ct -----------of
Not Rated(0)