Problem $20-8($Static$)$ Accounting changes; six situations $[$LO$20-1,20-3,20-4]$

Described below ace Nix independent and unvelated situablons involving accounting changes. Each change occurs during $2024$ before any adjuling entries or closing entries were prepored. Assume the tar rate for each compary is $25\%$ in al yearl. Acy tar eflects Should be aojusted trough the defecsed tar liability account.

a$.$ Fieming Fiome Products irtroduced a new line of commercial twoings in $2023$ that corry a one year waranty apainst manutschurer's defects based on industy experiesce, wararty couts were expected to opprovinate $3$ns of salies. Sales of the awnings in $2023$ were $$3,500,000.$ Accoidingh, waranty expense and a warranty liabily of $$105\mathrm{.}000$ eere necortied in $2023$ in ine $2024,$ the company's claims experience was evaluated. and it was deternined that ciaims weve far ferwer than expectied $27$ of swles ather than $3$ x $.$ Sales of the ownings in $2924$ were $$4,000,000,$ And worturty expendtures in $2024$ fotaied $$91\mathrm{.}000.$ besis assuming a usetul ite of $49$ yedss and no salvage value. Howevec, plans were finalised in $2024$ is relocite the company headquarters at the end of $2028$ The vacated office buliding wil have a savispe value at mat bise of $$700000$

$6.$ Hobbs$-$Bato Meschandiving, incorporated, changed Itventory cost methods to UFO fiom fifO at the end of $2024$ for both be to years with ne wivape vilue. The equpment mas depreciabed by the sum$-$ot$-$the$-$yedr'$-$ dgits method On denuery $1,2024.$ the compary chaloed to the stright ine method. Toluming entry win recorded

$\backslash$table$[[$Artant mater,Embat,EFEAEI$],[$LE$5-1$itiget ion,$270,{?}^{cos},],[$kasaittr$-173753,,804,7*4]]$

Bequlesed:

For ewch siturion

$5.$ idenety me type ef change