Answer:
The answer is D. Accounted for in current and future periods.
Explanation:
A change in accounting estimate is an adjustment of the carrying value of an asset or liability arising from reassessing the expected future economic benefits and obligations associated with that asset or liability.
Changes in accounting estimates must be shown in the accounting period in which the estimates are revised and periods after i.e accounted for prospectively. Example is a change in useful life and salvage value of a fixed asset
Kaia's conceptual abilities are demonstrated by the aforementioned scenario.
<h3>What is the meaning of skills?</h3>
Ability to perform is referred to as skill. The abilities acquired to carry out particular tasks. It needs experience that has been developed through persistent work in certain areas.
Activities such as printmaking, photography, ornamental arts, music, painting, film, literature, and architecture were all considered skills.
Conceptual abilities are the Conceptual talents are the capacity to understand a complex circumstance or issue and offer a more unique and useful solution.
Thus, it may be said that the provided illustration demonstrates conceptual skills.
Learn more about Conceptual skills here:
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For question 3: I think it's True
For question 4: I think it's False.
Did that help?
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Answer:
$55,826
Explanation:
The computation of year 4 cash flow is shown below:
= Operating cash flow + required net working capital + after cash flow arise from salvage value
where,
Operating cash flow is $47,000
Required net working capital is $3,800
After cash flow arise from salvage value is
= Sale value - gain on salvage value × tax rate
The gain on salvage value is
= $5,400 - $3,800
= $1,100
So the after cash flow arise is
= $5,400 - $1,100 × 34%
= $5,400 - $374
= $5,026
Now the year 4 cash flow is
= $47,000 + $3,800 + $5,026
= $55,826
