Business, 12.08.2020 22:01 CarlyAnnn9949
Link Co. purchased machinery that cost $3,000,000 on January 4, 2016. The entire cost was recorded as an expense. The machinery has a nine-year life and a $200,000 residual value. The error was discovered on December 20, 2018. Ignore income tax considerations. Before the correction was made, and before the books were closed on December 31, 2018, retained earnings was understated by:.a. $3,000,000.
b. $2,066,667.
c. $2,377,778
d. $2,333,333.
Answers: 1
Business, 21.06.2019 21:00
Sheldon has the following year-end account balances: accounts receivable, $5,000; supplies, $12,000; equipment, $18,000; accounts payable, $17,000; stockholders’ equity, $43,000. the cash account balance was not available at year-end. given the account balances listed, the balance in the cash account should be?
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Business, 23.06.2019 00:30
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Business, 23.06.2019 04:50
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Link Co. purchased machinery that cost $3,000,000 on January 4, 2016. The entire cost was recorded a...
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