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4) Accrued taxes payable of $130,000 were not recorded at December 31, 2020. Office supplies on hand of $80,000 at December 31, 2021 were erroneously

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4) Accrued taxes payable of $130,000 were not recorded at December 31, 2020. Office supplies on hand of $80,000 at December 31, 2021 were erroneously treated as expense instead of supplies inventory. Neither of these errors was discovered nor corrected. The effect of these two errors would cause retained earnings at December 31, 2021 to be in error by what amount? 5) Mountain Co. purchased machinery that cost $800,000 on January 1, 2019. The entire cost was recorded as an expense. The machinery has an eight-year life and a $60,000 residual value. The error was discovered on December 20, 2021. Ignore income tax considerations. Mountain's income statement for the year ended December 31, 2021, should show depreciation expense of

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