3 briefly describe any other steps that should be

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Principles of Microeconomics
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Chapter 10 / Exercise 1
Principles of Microeconomics
Mankiw
Expert Verified
3. Briefly describe any other steps that should be taken to appropriately report the situation.
2. No journal entry required to record the change, Adjusting entry for 2011:
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Principles of Microeconomics
The document you are viewing contains questions related to this textbook.
Chapter 10 / Exercise 1
Principles of Microeconomics
Mankiw
Expert Verified
31-Dec-11 3. A note must be provided in the financial statements about the change in the deprecia 1. Type of change – change in depreciation accounting method – a change in accountin 2. No journal entry required. 3. As the change will be effective only for the assets acquired newly after the change, i of change in the income statement and other financial statements due to this must be disclosed P 11-11 Collins Corporation purchased office equipment at the beginning of 2009 and capitalized a cost of $2,000,000.

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