Question
In 2016, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $366,000 cost of a machine purchased on January 1,
| In 2016, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $366,000 cost of a machine purchased on January 1, 2013. The machines useful life was expected to be six years with no residual value. Straight-line depreciation is used by PKE. |
| Ignoring income taxes, prepare the journal entry PKE will use to correct the error. |
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Theory And Practice Of Australian Auditing
Authors: Schelluch Gul, Teoh, Andrew
1st Edition
0170092445, 978-0170092449
