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Required: For each situation: 1. Identify the type of change. 2. Prepare any journal entry necessary as a direct result of the change, as well
Required: For each situation: 1. Identify the type of change.
2. Prepare any journal entry necessary as a direct result of the change, as well as any adjusting entry for 2021 related to the situation described.
- Record journal entry as a direct result of the change.
- Record adjusting entry for change in warranty.
- Record journal entry as a direct result of the change.
- Record adjusting entry for depreciation.
- Record journal entry as a direct result of the change.
- Record the adjusting entry for change in inventory cost method.
- Record journal entry as a direct result of the change.
- Record adjusting entry for depreciation.
- Record journal entry as a direct result of the change.
- Record journal entry as a direct result of the change.
- Record the adjusting entry for change in depreciation method from sum-of-the-years-digits method to straight-line method.
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