Unformatted text preview: in methods using the retroactive approach. Requirement 2: Assume the Company has revenue for each of the three years of $5,000, a tax rate of 40% and uses sum of the years digits for tax reporting , make all necessary adjusting entries to account for the change in methods using the retroactive approach. Remark: Making depreciation and tax entries for all three years along with the correcting entry would be good practice....
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- Summer '11
- Depreciation, Generally Accepted Accounting Principles, Methods homework assignment, retroactive approach