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university of california Operations And Supply Chain Management Assignment Help - The company changed

Question - Williams-Santana, Inc., is a manufacturer of high-tech industrial parts that was started in 2001 by two
talented engineers with little business training. In 2013, the company was acquired by one of its major
customers. As part of an internal audit, the following facts were discovered. The audit occurred during
2013 before any adjusting entries or closing entries were prepared.
a. A five-year casualty insurance policy was purchased at the beginning of 2011 for $35,000. The full
amount was debited to insurance expense at the time.
Effective January 1, 2013, the company changed the salvage value used in calculating
depreciation for its office building. The building cost $600,000 on December 29, 2002, and has
been depreciated on a s ...Read More

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