The cumulative effect after tax.

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Answer 1

Question

Chapter 21, Problem 21.5P

a.

To determine

The cumulative effect after tax.

b.

To determine

To prepare: Journal entry to record the change in method effective January 1, 2019.

c.

To determine

To prepare: The footnote for the accounting method change in the financial statement.

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Accounting

Brun Company produces its product through two processing departments: Mixing and Baking. Information for the Mixing department follows. Direct Materials Conversion Unit Percent Complete Percent Complete Beginning work in process inventory 7.500 Units started this period 104,500 Units completed and transferred out 100.000 Ending work in process inventory 12.000 100% 25% Beginning work in process inventory Direct materials Conversion $6.800 14.500 $21.300 Costs added this period Drect materials 116,400 Conversion Total costs to account for 1.067,000 1.183.400 $1.204.700 Required 1. Prepare the Mixing department's production cost report for November using the weighted average method Check (1) C$1.000 2. Prepare the November 30 journal entry to transfer the cost of completed units from Mixing to Baking

None

Answer 2

Question

Chapter 21, Problem 21.5P

a.

To determine

The cumulative effect after tax.

b.

To determine

To prepare: Journal entry to record the change in method effective January 1, 2019.

c.

To determine

To prepare: The footnote for the accounting method change in the financial statement.

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Answer 3

Question

Chapter 21, Problem 21.5P

a.

To determine

The cumulative effect after tax.

b.

To determine

To prepare: Journal entry to record the change in method effective January 1, 2019.

c.

To determine

To prepare: The footnote for the accounting method change in the financial statement.

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Answer 4

Question

Chapter 21, Problem 21.5P

a.

To determine

The cumulative effect after tax.

b.

To determine

To prepare: Journal entry to record the change in method effective January 1, 2019.

c.

To determine

To prepare: The footnote for the accounting method change in the financial statement.

Expert Solution & Answer

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Answer 5

Chapter 21, Problem 21.5P

a.

To determine

The cumulative effect after tax.

b.

To determine

To prepare: Journal entry to record the change in method effective January 1, 2019.

c.

To determine

To prepare: The footnote for the accounting method change in the financial statement.

Answer 6

Chapter 21, Problem 21.5P

a.

To determine

The cumulative effect after tax.

Answer 7

Chapter 21, Problem 21.5P

a.

To determine

The cumulative effect after tax.

Answer 8

b.

To determine

To prepare: Journal entry to record the change in method effective January 1, 2019.

Answer 9

b.

To determine

To prepare: Journal entry to record the change in method effective January 1, 2019.

Answer 10

c.

To determine

To prepare: The footnote for the accounting method change in the financial statement.

Answer 11

c.

To determine

To prepare: The footnote for the accounting method change in the financial statement.

Answer 12

Expert Solution & Answer

Answer 13

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Answer 14

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Answer 15

Ch. 21 - Are accounting changes permitted in financial...Ch. 21 - How do firms report accounting changes under the...Ch. 21 - Prob. 21.3Q Ch. 21 - How do firms account for changes in accounting...Ch. 21 - Prob. 21.5Q Ch. 21 - Prob. 21.6Q Ch. 21 - Prob. 21.7Q Ch. 21 - Prob. 21.8Q Ch. 21 - Do accounting errors that self-correct within two...Ch. 21 - Does a firm need to correct an error that...

The cumulative effect after tax.

Solution Summary: The author explains how the cumulative effect after tax is 159,400. Journalizing is the process of recording the transactions of an organization in a chronological order.

Concept explainers

The cumulative effect after tax.

To prepare: Journal entry to record the change in method effective January 1, 2019.

To prepare: The footnote for the accounting method change in the financial statement.

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Chapter 21 Solutions