The first balance sheet presented under the new method is December 31,2014.The cumulative effect after tax in retained earnings is computed as follows:
The cumulative effect of the change is $15,000 plus $12,000 equals $27,000.
Definitions:
Popular Children
Children who are frequently identified as a best friend and are rarely disliked by their peers.
Master Anxieties
The fundamental fears and anxieties that dominate or significantly influence an individual's personality and actions throughout different stages of life.
Freud
Sigmund Freud, an influential neurologist and founder of psychoanalysis, known for his theories on the unconscious mind and psychosexual development.
Erikson
Erik Erikson, a developmental psychologist known for his theory on the psychological development of humans at different stages of life.
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