{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

ch22 - CHAPTER 22 ACCOUNTING CHANGES AND ERROR ANALYSIS...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 22 ACCOUNTING CHANGES AND ERROR ANALYSIS MULTIPLE CHOICE —Conceptual Answer No. Description b 1. Accounting changes and consistency concept. b 2. Identify changes in accounting principle. c 3. Identify a change in accounting principle handled currently. d 4. Identify a change in accounting principle reporting pro forma amounts. d 5. Disclosures required for a change in depreciation methods. d 6. Entry to record a change in depreciation methods. c 7. Change from percentage-of-completion to completed-contracts. b 8. Change from FIFO to LIFO. b 9. Disclosures required for a change from LIFO to FIFO. c 10. Change in accounting estimate. a 11. Change in accounting estimate. b 12. Identify a change in accounting estimate. b 13. Change in accounting estimate. c 14. Identify a change in accounting estimate. d 15. Identify a change in reporting entity. c 16. Retroactive reporting a change in reporting entity. c 17. Identify a correction of an error. b 18. Identification of counterbalancing errors. c 19. Impact of failure to record purchase and count ending inventory. c 20. Impact of failure to record purchase and count ending inventory. MULTIPLE CHOICE —Computational Answer No. Description b 21. Calculate cumulative effect of a change in depreciation method. b 22. Calculate cumulative effect of a change in depreciation method. c 23. Calculate net income with change in accounting principle with tax effects. a 24. Calculate net income with change from FIFO to LIFO. a 25. Calculate net income with change in an accounting estimate. a 26. Determine depreciation expense after a change in estimated life. d 27. Calculate effect of errors on net income. c 28. Calculate effect of errors on working capital. c 29. Calculate effect of errors on retained earnings. a 30. Effect of errors on income and retained earnings. a 31. Calculate effect of errors on net income. b 32. Calculate effect of errors on retained earnings. c 33. Calculate effect of errors on working capital. d 34. Determine cumulative effect of error on income statement. c 35. Determine the understatement of retained earnings.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Test Bank for Intermediate Accounting, Eleventh Edition MULTIPLE CHOICE —CPA Adapted Answer No. Description b 36. Identify a change in accounting principle. c 37. Cumulative effect of a change from weighted-average to LIFO. a 38. Reporting a change to FIFO from LIFO. a 39. Balance of accumulated depreciation after a change in estimate. b 40. Determine carrying value of a patent with a change in estimate. d 41. Reporting royalty income when amount realized differs from estimate. c 42. Impact of failure to accrue insurance costs. a 43. Retained earnings balance with multiple errors. b 44. Depreciation expense to be recorded following an error. EXERCISES Item Description E22-45 Matching accounting changes to situations.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern