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San Diego State University Operations And Supply Chain Management Assignment Help - Method

Question - Change in Estimate and Error; Financial Statements Presented below are the comparative income
statements for Pannebecker Inc. for the years 2009 and 2010. The following additional information is
1. In 2010, Pannebecker Inc. decided to switch its depreciation method from sum-of-the-years’-digits
to the straight-line method. The assets were purchased at the beginning of 2009 for $90,000 with an
estimated useful life of 4 years and no salvage value. (The 2010 income statement contains
depreciation expense of $27,000 on the assets purchased at the beginning of 2009.)
2. In 2010, the company discovered that the ending inventory for 2009 was overstated by $20,000;
ending inventory for 2010 is correctly stated.
Prepare t ...Read More

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