You have just landed an accounting position with a national telecommunications company, Critical Thinking help

Question description

You have just landed an accounting position
with a national telecommunications company. 
Because this is your first job you are eager to please your co-workers
and your supervisor who works closely with the controller.  However, your supervisor has just paid you a
visit.  She told you that the controller
is concerned that profits for the last fiscal year are much less than profits
in the preceding five years.  The
controller has asked that depreciation on a machine purchased at the beginning
of last year be recalculated.  The
machine has a five-year useful life and is depreciated using the straight-line
method.  The controller has asked that
the machine be depreciated over a ten-year useful life.  Your supervisor contends that the
“depreciation thing” really doesn’t matter because the machine has
already been paid for.  In addition, your
supervisor gives you an adjusting journal entry to correct what she calls
“expense transfers”.  This entry
transfers items originally recorded as repairs and maintenance to capital
Do you
agree with the supervisor regarding the change in the estimated useful life of
the machine?  Why or why not?
Are you
going to recalculate the depreciation and change the entry?  Why or why not?
What is
the proper accounting treatment for:  (1)
repairs and maintenance and (2) plant assets?
What is
your supervisor trying to accomplish with the suggested “expense transfers”
entry?  What would be your course of
action regarding the suggested entry?

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more