subject
Business, 17.04.2020 19:53 smith4kaay

Cuff and Link Co. purchased machinery that cost $1,800,000 on January 4, 2013. The entire cost was recorded as an expense. The machinery has a nine-year life and a $120,000 residual value. The error was discovered on December 20, 2015. Ignore income tax considerations.

a. Cuff & Link's income statement for the year ended December 31, 2014, should show the cumulative effect of this error in the amount of:
b. Before the correction was made, and before the books were closed on December 31, 2015, retained earnings was understated by:

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 11:20
In 2000, campbell soup company launched an ad campaign that showed prepubescent boys offering soup to prepubescent girls. the girls declined because they were concerned about their calorie intake. the boys explained that “lots of campbell’s soups are low in calories,” which made them ok for the girls to eat. the ads were pulled after parents expressed concern. why were parents worried? i
Answers: 2
question
Business, 22.06.2019 11:50
True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.
Answers: 2
question
Business, 22.06.2019 19:30
Dollar shave club is an ecommerce start-up that delivers razors to its subscribers by mail. by doing this, dollar shave club is using a(n) to disrupt an existing market.a. innovation ecosystem b. architectural innovation c. business model innovation d. incremental innovation
Answers: 2
question
Business, 22.06.2019 21:40
Which of the following comes after a period of recession in the business cycle? a. stagflation b. a drought c. a boom d. recovery
Answers: 1
You know the right answer?
Cuff and Link Co. purchased machinery that cost $1,800,000 on January 4, 2013. The entire cost was r...
Questions
question
Mathematics, 10.11.2020 08:00
question
History, 10.11.2020 08:00
question
English, 10.11.2020 08:00
question
Biology, 10.11.2020 08:00
question
Mathematics, 10.11.2020 08:00
question
Mathematics, 10.11.2020 08:00
question
History, 10.11.2020 08:00
Questions on the website: 13722362