A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied. To identify : The type of changes made.

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Answer 1

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Chapter 11, Problem 11.10P

1)

To determine

Introduction: A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied.

To identify: The type of changes made.

2)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

3)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation

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ABF's metal spare parts manufacturing company uses the customised production method by attributing the GST to the products it produces with the help of predetermined attribution coefficients. The processing of metal parts is carried out in two production departments: the Cutting and Drilling department, and the Assembly department. The GIS attribution coefficients for the two departments are based on the operating hours of machines and the cost of direct work respectively. At the beginning of the year, the following budgets were implemented: Cutting and Drilling Department Assembly Department Direct Labor Costs (in euros) 1.320.000 2.000.000 G.B.E. (in euros) 4.800.000 2.400.000 Machinery Operating Hours 80.000 5.000 Direct Work Hours 27.000 12.000 Requested: To calculate the coefficient of attribution of the General Secretariat that will be used in each department. (4 units) To determine the production cost per unit for order 158 which…

Answer 2

Question

Chapter 11, Problem 11.10P

1)

To determine

Introduction: A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied.

To identify: The type of changes made.

2)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

3)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation

Expert Solution & Answer

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Answer 3

Question

Chapter 11, Problem 11.10P

1)

To determine

Introduction: A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied.

To identify: The type of changes made.

2)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

3)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation

Expert Solution & Answer

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Answer 4

Question

Chapter 11, Problem 11.10P

1)

To determine

Introduction: A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied.

To identify: The type of changes made.

2)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

3)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation

Expert Solution & Answer

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Answer 5

Chapter 11, Problem 11.10P

1)

To determine

Introduction: A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied.

To identify: The type of changes made.

2)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

3)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation

Answer 6

Chapter 11, Problem 11.10P

1)

To determine

Introduction: A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied.

To identify: The type of changes made.

Answer 7

Chapter 11, Problem 11.10P

1)

To determine

Introduction: A business that modifies its way of gathering and reporting its financials is said to have changed its accounting principles, i.e., the business will either select from a selection of generally accepted accounting principles or alter the method by which a principle is applied.

To identify: The type of changes made.

Answer 8

2)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

Answer 9

2)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

Answer 10

3)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation

Answer 11

3)

To determine

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 11 - Prob. 11.1Q Ch. 11 - Depreciation is a process of cost allocation, not...Ch. 11 - Identify and define the three characteristics of...Ch. 11 - Discuss the factors that influence the estimation...Ch. 11 - What is meant by depreciable base? How is it...Ch. 11 - Prob. 11.6Q Ch. 11 - Prob. 11.7Q Ch. 11 - Why are time-based depreciation methods used more...Ch. 11 - Prob. 11.9Q Ch. 11 - Prob. 11.10Q

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry. To Prepare: The journal entry based on different situations.

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry. Steps need to be taken to appropriately report the situation

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Chapter 11 Solutions

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

To Prepare: The journal entry based on different situations.

Introduction: The process for initially recording business transactions in the books of accounts is known as a journal entry. The double-entry technique becomes the foundation for the purpose of documenting the journal entry.

Steps need to be taken to appropriately report the situation