In 2014,a Company Discovered That $20,000 of Equipment Purchased on January

Short Answer

In 2014,a company discovered that $20,000 of equipment purchased on January 1,2011,was expensed in full.The equipment has a ten-year life,no residual value,and should have been depreciated on the straight-line basis.The error is corrected.As a result,the comparative 2013 and 2014 financial statements will show what amounts as adjustments to the beginning balances of retained earnings dated: