Business, 03.04.2020 17:31 thomasalmo2014

As a certified public accountant, you have been contacted by Joe Davidson, CEO of Sports Pro Athletics, Inc., a manufacturer of a variety of athletic equipment. He has asked you how to account for the following changes 1. Sports pro appropriately changed its depreciation method for its machinery from the doucle declining balance method to units of production method effective January 1, 2020. 2. Effective January 1, 2020 Sports Pro appropriately changed tha salvage values used in computing depreciation on its office equipment. 3. On December 31, 2020 sports pro changed the specific subsidiaries constuting the group of companies for which consolidate financial statements are presented. Required: Prepare a memo to Joe Davidson explaining how each of the above changes should be presented in the December 31, 2020 financial statements.

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