Menu
support@graduatecourseshelp.com
+1(805) 568 7317

effective january 1 2012 sports pro appropriately changed the salvage values used in 592490

(Change in Principle, Estimate) As a certified public accountant, you have been contacted by Joe Davison, CEO of Sports-Pro Athletics, Inc., a manufacturer of a variety of athletic equipment. He has asked you how to account for the following changes.

1. Sports-Pro appropriately changed its depreciation method for its production machinery from the double-declining-balance method to the production method effective January 1, 2012.

2. Effective January 1, 2012, Sports-Pro appropriately changed the salvage values used in computing depreciation for its office equipment.

3. On December 31, 2012, Sports-Pro appropriately changed the specific subsidiaries constituting the group of companies for which consolidated financial statements are presented.

Instructions

Write a 1–1.5 page letter to Joe Davison explaining how each of the above changes should be presented in the December 31, 2012, financial statements.

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now