<span>The level of maintenance that involves preventive and corrective procedures which are intended to restore equipment to a mission-capable status is the D - level maintenance. The FRC is a place whereby these kind of maintenance is being held. They are the ones who ensure that the transportation vehicle is still capable to operate such as checking their operation systems, maintenance, improvement and sampling.
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They are manufactured in a mint
Answer: C. $150,000 credit
Explanation:
In the financial statements for year 2, it should be noted that the year 1 retained earnings balance, should be adjusted by $150,000 credit.
The corrections of errors should be treated as the period adjustments before. In this case, the $150,000 overstatement for the cost of goods that was sold in the previous year, will then be credited to the beginning balance of the retained earnings.
Therefore, the correct option is C.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
