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could someone explain this plz Question 14 (1 point) A company's income statement for the year ended December 31, 2015 showed a net income of
could someone explain this plz
Question 14 (1 point) A company's income statement for the year ended December 31, 2015 showed a net income of $83,600. Before releasing the financials the auditor found that $18,000 paid for the purchase of a truck had been debited in error to the inventory account. The company adopts the specific identification method with respect to its inventory cost flow assumption, and the truck was not sold during the year of 2015. It is the company's policy to depreciate trucks at 25% per year on the straight line basis, with a full year's charge in the year of acquisition. Assume that there is zero residual value for the truck. What would the net income be after adjusting for this error? For your answer, make sure to put the number without dollar signs ($), commas (,), periods (.), and decimal points. Again, please state the number only without dollar signs, commas, periods, and decimal points for your answer. For example, if the answer happens to be 12345, then you must simply put 12345Step by Step Solution
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