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Described below are six independent and unrelated situations involving accounting changes. Each change
occurs during 2021 before any adjusting entries or closing entries were prepared. Assume the tax rate for each
company is 25% in all years. Any tax effects should be adjusted through the deferred tax liability ac… Show more
occurs during 2021 before any adjusting entries or closing entries were prepared. Assume the tax rate for each
company is 25% in all years. Any tax effects should be adjusted through the deferred tax liability ac… Show more
