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VashaNatasha [74]
3 years ago
7

Sheridan Co. purchased machinery that cost $2650000 on January 4, 2019. The entire cost was recorded as an expense. The machiner

y has a 9-year life and a $165000 residual value. The error was discovered on December 20, 2021. Ignore income tax considerations. Sheridan's income statement for the year ended December 31, 2021, should show the cumulative effect of this error in the amount of:________
Business
1 answer:
Novay_Z [31]3 years ago
7 0

Answer:

See below

Explanation:

Recording the entire cost as expense would have understated retained earnings by $2,650,000

Annual depreciation on machine = ( Purchase cost - Residual value ) / Useful life

= ($2,650,000 - $165,000) / 9

= $2,485,000 / 9

= $276,111.11

Depreciation would have been recorded for $552,222 for 2 years had the machinery been corrected recorded I.e $276,111 × 2 = $552,222

Therefore , the cumulative effect of this error on the income statement of Sheridan for the year ended, 31 December 2021 would have shown

= $2,650,000 - $552,222

= $2,097,779

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The Stackelberg solution can be used to find the perfect or stable Nash equilibrium or equilibria.

<h3>What is this equilibrium about?</h3>

Other answers:

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Note also that The Stackelberg leadership model is said to be a kind off strategic game  that is played in economics where the leader firm is known to moves first and then the follower firms is said to then move in a sequential manner and I think, the solution do not change if stackelberg game is considered in the long run.

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8 0
2 years ago
Format of a presentation essay <br>​
egoroff_w [7]
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3 years ago
The manager of manufacturing consults with a customer service representative to determine the status of a shipment to a customer
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Option C

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8 0
3 years ago
The Mixing Department of Complete Foods had 62,000 equivalent units of materials for October. Of the 62,000 ​units, 38,000 units
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Answer:

Materials

62,000 equivalent units

Conversion

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Cost of finished Goods

38,000 x (.75 + .55) = 38,000 x 1.3 = $49,400

WIP

24,000 x .75 = 18,000

4,800 x .55 =    2,640

Total WIP         20,640

Explanation:

Equivalent Units

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6 0
3 years ago
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Answer:

C) 0.0 percent

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