Answer:
1.- Without Retrospective effect
2.- No as it comes from a change in estimations not an accounting error.
3.- yes. It will give a full explanation about the reasons to extend the useful life.
4.- Depreciation expense for 2021: 60,000
Explanation:
1.- The change in the useful life does not represent an accounting error. It comes from the estimation process.
800,000 - 160,000 x 2 = 480,000 book value at beginning 2021
480,000 / 8 new useful life = 60,000 depreciation per year.
Answer:
$30,900
Explanation:
The beginning finished goods is $15,400
Raw materials purchased is $18,800
The cost of goods manufactured is $34,100
Ending finished goods is $18,600
Therefore the cost of gods can be calculated as follows
= 15,400+34,100-18,600
= 49,500-18,600
= 30,900
Hence the cost of goods sold by the company is $30,900
Answer:
I'm sorry I looked it up but one site said 41 and another said 79
Answer:
The correct answer is True
Explanation:
In calculating the equivalent units with respect to labor,the physical units at the start of the period is multiplied by the percentage of completion.
In other words, the equivalent units is shown thus:
Equivalent units =100000 units*20%
Equivalent units =20000 units
This implies that labor has carried out 20% of the work required to transform the 100000 units into finished products,since only 20% work is completed, the remaining 80% is expected in the next period.
