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godsgrace2013 godsgrace2013
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Posts: 206
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5 years ago
If the estimated useful life of an asset was originally 10 years and then later changed to 12 years,
the effects of this change should be:
A) Reported as a special item on the income statement in the year it occurs.
B) Spread over the current and future periods.
C) Reported and recorded retrospectively, including pro forma financial statements in the year
of change.
D) Recorded in an adjustment to the Accumulated Depreciation account and the Retained
Earnings account in the year of change.
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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patod1patod1
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#1
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5 years ago
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godsgrace2013 Author
wrote...

5 years ago
Thanks
lubennick
wrote...

Yesterday
Good timing, thanks!
nsak
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2 hours ago
This site is awesome
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