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Ksivusya [100]
3 years ago
7

Link Co. purchased machinery that cost $3,000,000 on January 4, 2019. 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, 2021. 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.
Business
1 answer:
Natali5045456 [20]3 years ago
7 0

Answer:

See below

Explanation:

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lidiya [134]

Answer:

Explanation:

Discount bonds are issued on discounted price of their face value

Here discount = 11100000-9720000

= 1380000

on 1/07/2016

cash outflow or book value of bond

= 9720000

on 30/06/2017

interest paid = 999000

yield expected = 972000 ( 10% of issue price )

interest amortized

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book value = 9720000 + 27000

= 9747000

on 30/06/2018

interest paid = 999000

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interest amortized

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value amortized = 24300 + 27000 = 51300

book value = 9747000 + 24300

= 9771300

Amount unamortized

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3 0
4 years ago
Nick has saved $30 per week to buy a new Blu-ray player. He compares two different models: a Panaview that is priced at $130 and
Volgvan

Answer:

1. Nick can easily determine that the Panaview model has a lower price than the Zony model. - Unit of Account.

One of the three roles money plays is that of Unit of Account. Money is used to measure the values of goods and services accurately, so that their values can be assessed, and more importantly, compared.

2. Nick saved $30 per week. - Store of Value.

Another one of the three roles of money is that of Store of Value. Money is a good that has intrinsic value, and can be amassed to save for the future.

3. Nick pays $140 for the Blu-Ray player. - Medium of Exchange.

The final role that money plays is that of Medium of Exchange. Money is a good that can be used to facilitate exchange among other goods and services because it can be easily stored, it works as a unit of account, it is accepted by many people, and it has some sort of official authority backing it.

5 0
3 years ago
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4 years ago
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Phoenix [80]

Answer:

Operational goals

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The operational goals are the goals that refer to the day to day targets so that the daily requirement of the company would be fulfilled that would result to fulfill the larger requirement at a later time as if the daily targets are fulfilled so the chance of fulfilling the larger task is high

To fulfill the daily task, the efficiency and effectiveness of the employees is equally important that could help the organization to achieves its desired targets and the objectives

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