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.
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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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.
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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What are good skills to have for online college courses
Answer:
computer science
Explanation:
The skills helps to know and be able to access computer very well
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
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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μx = 20.9
σX = 4.2
D = 5x-9
Find μD
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]