Maurice Tutor

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About Maurice Tutor

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Expertise:
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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 5 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 05 Aug 2017 My Price 4.00

Frederick Industries

(Change in Estimate—Depreciation) Frederick Industries changed from the double-declining balance to the straight-line method in 2012 on all its plant assets. There was no change in the assets’ salvage values or useful lives. Plant assets, acquired on January 2, 2011, had an original cost of $2,400,000, with a $100,000 salvage value and an 8-year estimated useful life. Income before depreciation expense was $370,000 in 2009 and $300,000 in 2012.

Instructions

(a) Prepare the journal entry (ies) to record the change in depreciation method in 2012.

(b) Starting with income before depreciation expense, prepare the remaining portion of the income statement for 2011 and 2012.

Answers

Maurice Tutor
(5)
Status NEW Posted 05 Aug 2017 04:08 PM My Price 4.00

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