Advanced Placement (AP) College

Exercise 11-25 (Algo) Change in principle; change in depreciation methods [LO11-2, 11-6] For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2018 for $2,750,000. Its useful life was estimated to be five years, with a $155,000 residual value. At the beginning of 2021, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows: ($ in thousands) Year Straight Line Declining Balance Difference 2018 $ 519 $ 1,100 $ 581 2019 519 660 141 2020 519 396 (123 ) $ 1,557 $ 2,156 $ 599 Required: 2. Prepare any 2021 journal entry related to the change.

Answers

Answer 1

The journal entry that's related to the change is the depreciation expense of $116333.

What is a journal entry?

The act of logging any transaction, whether or not it is an economic one, is known as a journal entry. Transactions are recorded in an accounting journal that shows the debit and credit balances of a company. The journal entry may contain many recordings, each of which is either a debit or a credit.

Depreciation or bond amortization are examples of recurring items that can be recorded in journal entries. Accounts payable normally has its own subledger that indirectly impacts the general ledger, and journal entries are frequently filed using a different module in accounting software. As a result, general ledger account balances are changed directly by journal entries.

The declining-balance method of depreciation was applied by Clinton Poultry Farms on conveyor equipment purchased at the beginning of 2018. In this case, the journal entry is attached.

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Exercise 11-25 (Algo) Change In Principle; Change In Depreciation Methods [LO11-2, 11-6] For Financial

Related Questions

Why do we tend to think of gender, sexual, and racial identities in terms of binaries, e.g. male/female, straight/gay, black/white?

Answers

Answer:

that's just human

Explanation:

you see humans are going to be humans, you can't change it that's why if I see a black pen I know it's black and if I see a blue pen I know it blue,though binaries come in different cases I hope you get my point

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Which sentence uses subjective language?
‒‒‒‒‒‒‒‒‒‒‒
----
The winner of a checkers game is the first
O player to capture or block all of their opponent
pieces.
Players capture the checkers of their opponent
by jumping over them.
The American version of checkers is played on
a board with 64 spaces, unlike the international
form that has 100.
Checkers is a versatile game that delights both
kids and adults.

Answers

Answer:

Checkers is a versatile game that delights both

kids and adults.

Explanation:

Because it is an opinion that checkers is delighting and subjective language basically means opinionated.

A way to think about subjective vs objective is that Subjective is based on your own Sensory interpretation and Objective is based on Observation that's unbiased.

Assign total_owls with the sum of num_owls_A and num_owls_B. Remember num_owls_A and num_owls_B need to be converted to integers. Sample output with inputs: 3 4 Number of owls: 7

Answers

Debugging a program entails identifying and correcting its faults.

What is debugging?
In computer programming & engineering, debugging is a multistep process that entails locating a problem, tracking down the source of the issue and either fixing the problem directly or finding a workaround. Testing the fix or workaround to make sure it functions is the last stage in the debugging process. When a developer is able to find and reproduce a code error inside a computer programme, the debugging process in software development gets started. The software testing process, as well as the full software development lifecycle, includes debugging.

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what is a premier college

Answers

Answer:

I believe a premier college is a newly opened college.

Explanation:


Why does Nietzsche believe that GOOD and EVIL have been replaced by "Good" and "Bad"?
What do you think Nietzsche is trying to tell us?

Answers

Answer:

Nietzsche believes Good and Evil is a "Master Moral" system and Good and Bad is a "Slaves Moral" system. Masters believe strength is good and weakness evil while Slaves believe humility is good and rule is bad because that very strength is used against them. Nietzsche believes that we should not accept either of these moralities but make our own. A good person is one who expresses themselves and becomes what they truly are.

What are good skills to have for online college courses

Answers

Answer:

computer science

Explanation:

The skills helps to know and be able to access computer very well

Match each term with its corresponding description. Answers are used only once.
Group of answer choices
Device that responds to temperature changes and either turns the burner on or off.

Small, less powerful broiler used for browning food, rather than fully cooking it.

Heavy cast-iron top that has a heat source located underneath it on which food is cooked in pots and pans.

Device that uses a radiant heat source placed above the food to be cooked.

Most common type of commercial stovetop.

Permanently fixed, large pot with double-walled construction.

Cooking appliance that has the radiant heat source located below the food and rack.

List of tasks to be performed to ensure equipment stays in proper working order.

Polished stainless steel stovetop on which food is cooked directly without pots or pans.

Range that uses electromagnetic energy to heat special pots and pans.

Answers

The matching shows that the thermostat responds to the change in temperature.

How to illustrate the information?

Device that responds to temperature changes and either turns the burner on or off.   thermostat

Small, less powerful broiler used for browning food, rather than fully cooking it.   salamander

Heavy cast-iron top that has a heat source located underneath it on which food is cooked in pots and pans. flattop range

A device that uses a radiant heat source placed above the food to be cooked. - broiler

The most common type of commercial stovetop. open-burner range

Permanently fixed, large pot with double-walled construction. - steam-jacketed kettle

The cooking appliance that has a radiant heat source located below the food and rack. - grill

Polished stainless steel stovetop on which food is cooked directly without pots or pans. - griddle

The range that uses electromagnetic energy to heat special pots and pans. induction range

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μx = 20.9
σX = 4.2
D = 5x-9
Find μD

Answers

Answer:

E(D)=95.5

Explanation:

[tex]E(X)=20.9\\E(D)=E(5X-9)=5E(X)-9=5*20.9-9=95.5[/tex]

Which type of policy would Thomas Malthus most likely support?

Imperial

Antinatalist

Immigration

Devolutionary

Pronatalist

Answers

The type of policy that Thomas Malthus would likely support is the "Antinatalist Policy" (Option B).

What is an Antinatalist Policy?

This refers to the government's strategy of aiming to limit the number of births in order to halt population increase. Antinatalist is the polar opposite of Pronatalist.

China is known to have effectively implemented an antinatalist program. On the other hand, many nations in Europe, including Japan, Canada, South Korea, Greece, Singapore, Spain, Italy, and many more countries are well-known pro-natalist countries. France and Germany both have low fertility rates. Germany, on the other hand, has been hesitant to embrace a pro-natalist strategy.

Malthus projected that natural population increase would surpass agricultural productivity, resulting in famines and other disasters until the population fell below a sustainable level. Because of this relative plenty, fertility rises again, culminating in a continuous cycle of overcrowding and population collapse.

Hence, the reason why he would most likely support Antinalalist Policies.

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