ap.501_accounting changes and errors analysis
TRANSCRIPT
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nal Review and Training Center
Accounting Changes and
Errors Analysis
(AP.501)
. R. Ca!arles
Accounting Changes and
Errors Analysis
(AP.501)
. R. Ca!arles
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Relevant Standard
PAS 8 Accounting Policies,Changes in Accounting Estimatesand Errors
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Problem No. 1
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Question 1
RE, 1!1!1" P#$,$$$
E%%ect o% change in &olic'(P1),$$$ * .+ 1$,)$$
RE, 1!1!1", restated "$,)$$
Ad-usted &ro%it #$1"(P+",)$$ P)",)$$ P/,)$$ 0 P#,$$$ * .+ 1$,8)$
RE, 1#!"1!1" P21,")$
Ans3er is letter 4
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Question #
Re&orted C5S #$12 P8/,)$$
4eginning inventor' over ( /,)$$
6e&reciation over(P1,)$$ P/$$ ( 7$$
Ad-usted C5S #$12 P+7,1$$
Ans3er is letter C
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Question "
Sales #$12 P1$2,$$$
Ad-usted C5S ( +7,1$$
9ross &ro%it #2,7$$
:; ad-. gain (:;ncome ta* e*&ense ( 8,7+$
Ans3er is letter 4
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Question 2
Sales #$12 P1$2,$$$
Ad-usted C5S ( +7,1$$
9ross &ro%it #2,7$$
:; ad-. gain (:;ncome ta* e*&ense ( 8,7+$
Pro%it #$12 P #$,7"$
Ans3er is letter C
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:S Presentation
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Problem No. #
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances
>nventor' over #$1#
>nventor' over #$1"
>nventor' under #$11
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$
>nventor' over #$1#
>nventor' over #$1"
>nventor' under #$11
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1#
>nventor' over #$1"
>nventor' under #$11
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$
>nventor' over #$1"
>nventor' under #$11
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1"
>nventor' under #$11
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$
>nventor' under #$11
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1#
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1"
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1#
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1#
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R E
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1"
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R.E.
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R.E.
-
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#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12
#$11 #$1# #$1" #$12 R.E.
-
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39/90
#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$
#$11 #$1# #$1" #$12 R.E.
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
40/90
#$11 #$1# #$1" #$12 R.E.
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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43/90
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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47/90
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
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48/90
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
#$11 #$1# #$1" #$12 R.E.
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
49/90
?nad-usted balances /$,$$$ 22,$$$ )#,$$$ /$,$$$ #1/,$$$
>nventor' over #$1# ()/,$$$ )/,$$$
>nventor' over #$1" (/2,$$$ /2,$$$
>nventor' under #$11 28,$$$ (28,$$$
>nventor' under #$12 +#,$$$ +#,$$$
Pre&aid e*&ense #$11 +,#$$ (+,#$$
Pre&aid e*&ense #$1# ),/$$ (),/$$
Pre&aid e*&ense #$1" 2,$$$ (2,$$$
Pre&aid e*&ense #$12 2,8$$ 2,8$$
?nearned income #$1# (",#$$ ",#$$
?nearned income #$12 (#,2$$ (#,2$$
Accrued e*&ense #$11 (1,/$$ 1,/$$
Accrued e*&ense #$1# (/$$ /$$
Accrued e*&ense #$1" (8$$ 8$$
Accrued e*&ense #$12 (2$$ (2$$
Ans3ers@ 1C #A "C 26 )4
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Problem No. "
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Questions 1 and #
#$1" #$12
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?nad-usted &ro%it
#$1" #$12
-
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53/90
?nad-usted &ro%it "$,$$$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
54/90
?nad-usted &ro%it "$,$$$ )/,#)$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
55/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
#$1" #$12
-
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56/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12
#$1" #$12
-
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57/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
58/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
59/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
60/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1"
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
61/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
62/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
63/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
64/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
#$1" #$12
-
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65/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1"
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
66/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
67/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
68/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&.
Allo3. :or 6!A, 1#!"1!1" (P28,+)$ * .$/ P#,7#)
#$1" #$12
-
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69/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#)
Allo3. :or 6!A, 1#!"1!1" (P28,+)$ * .$/ P#,7#)
6!A e*&ense #$12A6A, 1#!"1!12 (P/+,)$$ * .$/ P2,$)$
A6A, 1#!"1!1" (#,7#)
P1,1#)
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
70/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
Allo3. :or 6!A, 1#!"1!1" (P28,+)$ * .$/ P#,7#)
6!A e*&ense #$12A6A, 1#!"1!12 (P/+,)$$ * .$/ P2,$)$
A6A, 1#!"1!1" (#,7#)
P1,1#)
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
71/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
72/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
73/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
#$1" #$12
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
74/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1"
#$1" #$12
d- d %i
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
75/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$
#$1" #$12
? d- d %i "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
76/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
#$1" #$12
? d- t d %it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
77/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1"
#$1" #$12
? d- t d %it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
78/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$
#$1" #$12
? d- t d %it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
79/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
#$1" #$12
? d- t d %it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
80/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12
#$1" #$12
?nad- sted & o%it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
81/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12 ",#)$
#$1" #$12
?nad-usted &ro%it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
82/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12 ",#)$
Purchases under #$12
#$1" #$12
?nad-usted &ro%it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
83/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12 ",#)$
Purchases under #$12 (",#)$
#$1" #$12
?nad-usted &ro%it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
84/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12 ",#)$
Purchases under #$12 (",#)$
Net ad-ustment
#$1" #$12
?nad-usted &ro%it "$ $$$ )/ #)$
A N 1 l C
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
85/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12 ",#)$
Purchases under #$12 (",#)$
Net ad-ustment (#,1+)
Ans3er No. 1 letter C
#$1" #$12
?nad-usted &ro%it "$ $$$ )/ #)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
86/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12 ",#)$
Purchases under #$12 (",#)$
Net ad-ustment (#,1+) (1#,##)
?nad-usted &ro%it P)/,#)$
Net ad-ustment (1#,##)Ad-usted &ro%it P22,$#)
Ans3er No. # letter C
#$1" #$12
?nad-usted &ro%it "$ $$$ )/ #)$
Retained earnings P12,2$$
?nused su&&lies 2)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
87/90
?nad-usted &ro%it "$,$$$ )/,#)$
Add (deduct ad-ustments@
a >nventor' over #$12 (2,)$$
b Accrued e*&. #$12 (1,8$$
c ?nused su&&lies #$1" 1,$)$ (1,$)$
?nused su&&lies #$12 2)$
d Accrued income #$1" 1,#$$ (1,#$$e 6oubt%ul accounts e*&. (#,7#) (1,1#)
% 6e&reciation under (1,)$$ (",$$$
g >nventor' under #$1" ),#)$ (),#)$
Purchases under #$1" (),#)$ ),#)$
>nventor' under #$12 ",#)$
Purchases under #$12 (",#)$
Net ad-ustment (#,1+) (1#,##)
?nused su&&lies 2)$
>nventor' P1,#)$
Accrued e*&ense 1,8$$
Allo3ance %or 6.A. 2,$)$
Acc. 6e&reciation 2,)$$
Accounts &a'able ",#)$
Ans3er No. " is letter A
Question No. 2
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
88/90
Ques o o
?nad-.
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
89/90
?nad-. liabs and SBE, 1#!"1!1"2 P17),1)$5verstatement o% RE ( 12,2$$Accrued liabilit' 1,8$$?nrecorded accounts &a'able ",#)$Ad-. liabs and SBE, 1#!"1!12 P18),8$$
Ans3er is letter A
Retained earnings P12,2$$
?nused su&&lies 2)$
>nventor' P1,#)$
Accrued e*&ense 1,8$$
Allo3ance %or 6.A. 2,$)$
Acc. 6e&reciation 2,)$$
Accounts &a'able ",#)$
-
7/25/2019 AP.501_Accounting Changes and Errors Analysis
90/90
End