1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Evgen [1.6K]
4 years ago
5

Leonard Corporation reports the following information: Correction of overstatement of depreciation expense in prior years, net o

f tax $ 215,000 Dividends declared 160,000 Net income 500,000 Retained earnings, 1/1/12, as reported 2,000,000 Leonard should report retained earnings, 1/1/12, as adjusted at a. $1,785,000. b. $2,000,000. c. $2,215,000. d. $2,555,000.
And how?
Biology
1 answer:
lukranit [14]4 years ago
6 0

Answer:

Option ‘C’ $ 2,215,000

Explanation:

Given data:

Retained Earnings on 1/1/12 = $ 2,000,000

Depreciation of previous years stated OVERSTATED.  which result in Retained Earnings stated UNDER-STATED.

Therefore, the total depreciation amount of Overstated when corrected increase the amount of  Retained earnings.

The Retained Earning balance on 1/1/12 after corrected is calculated as

= $ 2,000,000 + $ 215,000

= $ 2,215,000

Correct Answer = Option ‘C’ $ 2,215,000

You might be interested in
What is the original source of all energy in a food web?
Papessa [141]
The original source of all energy in a food web is the sun. the sun provides light energy that producers use in photosynthesis. animals eat the producers and other animals eat those animals. the energy flow goes up the web, but it all originated at the sun
5 0
4 years ago
Read 2 more answers
Which of the following is not one of the kingdoms of living things
joja [24]
Grass I think Bc it’s not a living thing
3 0
3 years ago
Describe how breathing is controlled
sveticcg [70]
The medulla oblongata is a primary respiratory control center. It’s main function is to send signals to the muscle that controls respiration to cause breathing to occur. There are two regions in the medulla that control respiration the ventral respiratory group stimulates expiratory movement.
8 0
4 years ago
My girlfrend she nice
forsale [732]

Answer:

okay............................

Explanation:

I guess

8 0
3 years ago
Read 2 more answers
Help me pleaseeeeeee
Mila [183]
Hydrolysis is the answer good luck
4 0
3 years ago
Read 2 more answers
Other questions:
  • Nicotine acts through which nuerotransmitter in the brain? how does it interact with this nuerotransmitter?
    7·1 answer
  • Which of the molecules shown in question 5 has an asymmetric carbon? Which carbon is asymmetric?
    8·1 answer
  • A splinter penetrates to the deepest layer of the epidermis on your foot. this layer is
    11·2 answers
  • Mushrooms and toadstools are members of the phylum. A) Zygomycota . B) Ascomycota . C) Basidiomycota . D) Chydridiomycota
    7·2 answers
  • ___ are ionic compounds that produce positive hydrogen<br> ions when dissolved in water.
    11·1 answer
  • Explain why glyphosate works faster in the summer after rain than after two weeks without rain.
    14·1 answer
  • Every year, the tropical rain forest has a rainy season. The forest floor floods, covering once dry areas with water. Some
    13·1 answer
  • HELP FAST PLZ
    10·2 answers
  • Write a hypothesis about the worms and lima bean plants. Be sure to answer the lab question, “How can the presence of one specie
    11·2 answers
  • 2 organelles likely to be found in a human cell
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!