Explain each:
Change in accounting principle
Change in accounting estimate
Change in reporting entity
Correcting an accounting error that occurred in a prior
period
How did the principles of Accounting Research Study #3 change
historical cost and the realization principle? Were these changes
more in line with GAAP today?
1. Which of the following changes in working capital will result
in an increase in cash flows?
a. increase in account payable
b. increase in inventories
c. decrease in current liabilities
d. increase in accounts receivable
2. Which of the following will occur in a statement of cash
flows as a result of paying cash dividends?
a. Cash flows from operations will increase.
b. Cash flows from investments will decrease.
c. Cash flows from the financing will decrease.
d. Cash...
1. Match each of the following scenarios with the accounting
principle or accounting assumption that it best illustrates.
Scenario
Accounting Principle or Assumption
Several years after Thomas Company purchased new office
equipment, the company’s accounting records still show the original
purchase price.
The home of Rob Elliot, the owner of GGE Enterprises Inc., is
not listed among the company’s assets.
Despite several years of falling sales, Thomas Company
continues to forecast sales and make strategic plans to raise
revenues and...
1. What is screw pump?
2. working principle of screw pump.
3. screw pump test rig
4. procedure
5. general use
6. identify its accuracy, precision and time respond in getting
a reading.
7. the advantage and disadvantage of screw pump.
Intermediate
Chapter 22: Change in Accounting Principle Problem
Whalen Incorporated began
operations in 2014, at which time they opted to account for
inventory
using the LIFO cost-flow
method. They issued 102,750 shares of $25-par value common stock;
no
further shares have been
issued. Dividends of $0.50 and $0.75 per share were declared and
paid
in 2016 and 2017,
respectively. The corporate tax rate is 30%.
In 2017 Whalen decided to
change its inventory cost-flow method from LIFO to FIFO. Using...
Calculate the amount of the change in net working capital given
the following information: The company had current assets of
$77,000 and current liabilities of $88,000. One year later, the
current assets are $99,000 and the current liabilities are $91,000.
The depreciation for the period is $8,800 and the interest paid is
$7,700.
1) Brushless DC Motor
----
a. Explain the working principle by supporting with visuals
which are drawned by yourself.
b. Give at least five samples to the most common areas of
use.
c. Explain how to read nameplate of the chosen machine by giving
an example.
d. Give the torque-speed charachretistics and explain how this
figure is used in real application.