Exercise 11-26 (Algo) Error correction [LO11-2, 11-7] In 2021, internal auditors discovered that PKE Displays, Inc. had debited an expense account for the $372,000 cost of equipment purchased on January 1, 2018. The equipment’s life was expected to be five years with no residual value. Straight-line depreciation is used by PKE. Required: 1. Determine the cumulative effect of the error on net income over the three-year period from 2018 through 2020, and on retained earnings by the end of 2020. 2. Prepare the correcting entry assuming the error was discovered in 2021 before the adjusting and closing entries. (Ignore income taxes.) 3. Assume instead that the equipment was disposed of in 2022 and the original error was discovered in 2023 after the 2022 financial statements were issued. Prepare the correcting entry in 2023

Which organization was established to train the hard-core unemployed? - better business bureau- equal employment opportunity commission- environmental protection agency- affirmative action committee- national alliance of business

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?

Which one of the following statements is true? ddt does not prevent disease from passing from agricultural animals to humans. cost was a major factor in the united states government's decision to ban ddt. many african governments concluded that the potential long-term health effects of ddt were not as serious as the immediate problem of insect control. ddt cannot accumulate in the fat of animals. the ddt ban in the united states has made it very difficult to control agricultural insect pests.