Question
In 2013, internal auditors discovered that Dodge, Inc. had debited an expense account for the $1,085,000 cost of a machine purchased on January 1, 2010.
In 2013, internal auditors discovered that Dodge, Inc. had debited an expense account for the $1,085,000 cost of a machine purchased on January 1, 2010. The machine's useful life was expected to be 7 years with no residual value. Straight-line depreciation is used by Dodge. The journal entry to correct the error will include a credit to accumulated depreciation of:
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Auditing Your Human Resources Department A Step By Step Guide
Authors: John H. McConnell
1st Edition
0814474675, 978-0814474679
