Witherfork Company was recently acquired by a new owner who has decided to correct the prior accounting records during the current reporting period ending December 31,2014.The accounts have been partially adjusted but have not been closed for 2014.The following items have been discovered:
Required:
Provide the appropriate entry to record any change or correction and give any adjusting entry needed in each instance at the end of 2014.Show computations for entries made,and provide explanations for situations for which no entry is required.

Question

Witherfork Company was recently acquired by a new owner who has decided to correct the prior accounting records during the current reporting period ending December 31,2014.The accounts have been partially adjusted but have not been closed for 2014.The following items have been discovered:
  Required:
Provide the appropriate entry to record any change or correction and give any adjusting entry needed in each instance at the end of 2014.Show computations for entries made,and provide explanations for situations for which no entry is required.

Quizplus · Accepted Answer

The Answer of Witherfork Company was recently acquired by a new owner who has decided to correct the prior accounting records during the current reporting period ending December 31,2014.The accounts have been partially adjusted but have not been closed for 2014.The following items have been discovered:
  Required:
Provide the appropriate entry to record any change or correction and give any adjusting entry needed in each instance at the end of 2014.Show computations for entries made,and provide explanations for situations for which no entry is required.

Witherfork Company Was Recently Acquired by a New Owner Who