For financial reporting. clinton poultry farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2015 for $2,560,000. its useful life was estimated to be six years with a $160,000 residual value. at the beginning of 2018. clinton decides to change to the straight-line method. the effect of this change on depreciation for each year is as follows: ($ in thousands) year straight-line declining balance difference 2015 $ 400 $ 853 $453 2016 400 569 169 2017 400 379 (21) $1,200 $1,801 $601 required: 1. briefly describe the way clinton should report this accounting change in the 2017-2018 comparative financial statements. 2. prepare any 2018 journal entry related to the change.

Which of the following accurately describes one way that individual goods differ from public goods? a. people can be excluded from using individual goods if they don't pay. b. all individual goods are normal goods. c. demand for individual goods is always inelastic. d. consumer rivalry results in decreasing marginal utility for individual goods.2b2t

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?