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:
$318,000
Explanation:
The computation of the total assets is shown below:
= Current assets + property, plant, and equipment - difference in amount
= $85,000 + $235,000 - $2,000
= $318,000
The difference of amount is
= Account receivable - collected amount
= $50,000 - $48,000
= $2,000
Since the current asset is already given so we considered the difference in amount to find out the total asset.
Answer:
planning publicity strategies and campaigns. writing and producing presentations and press releases. dealing with enquiries from the public, the press, and related organisations. organising and attending promotional events such as press conferences, open days, exhibitions, tours and visit.
Answer:
e. None of the above
Explanation:
The taxable asset purchases allows the individual to increase or step up the tax basis of acquired assets so as to reflect the price of the purchases made.
If one buy an assets, then he or she wants to allocate total purchase price in a way which gives a favorable postacquisition tax results.
In case of taxable asset purchases, the tax credits or the net operating losses cannot be transferred from the target firm to the acquiring firm.
The answer is psychological contract.
A broken psychological contract may occur when an employee believes that working extra would be naturally rewarded. This, however, may not be business policy. If the person is salaried, they may not be compensated for the extra hours worked.
Daily acts and remarks made in the workplace, as well as how they are interpreted by all parties involved, have an impact on the contract.
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In other words, it is a promise developed via regular workplace encounters in which the organization learns what is expected of each employee.
Psychological contracts evolve and adapt to the organizational working culture over time. However, they are generally difficult to change and can differ across individual party members and whole organizations.
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