The Packard Company erroneously records depreciation twice at year-end. Indicate the error on the Current Ratio and Retained Earnings, respectively. Select one: O a. No error, Overstated O b. No error, Understated O c Understated, Overstated @d. Understated. No error O e. Understated, Understated Maghielse Company incurred the following expenses during the year ended 12/31/14 Concepluw formulation of product alternatives $15,000 Legw work in connection with patent applications $120,000 Engineering follow through in an early phase of commercial production $10.000 Seasonal design changes to existing products $12,000 Depreciation on research equipment 550,000 The total amount to be expensed as Research and Development is: Select one O a. $170,000 O b. $75,000 O c. $145.000 O d. $65,000 O e. $135,000 In preparing its bank reconciliation for the month of April, Century, Inc. has available the following information: Balance per bank statement 4:30 NSF check returned with 430 bank statement Deposits in transit, 430 Outstanding checks, 430 Bank service charges for April $78925 450 12.000 10 000 25 an What is the unadjusted balance per books at April 307 Select one O a $81.400 O b. $80.925 O c $81,750 O d. $80,100 O e $81,800 All of Roberts Company's sales are on a credit basis. The following information is available for 2015: Allowance for double accounts al 1/1/15 Sales Sales returns Accounts written off as uncollectible $10,000 415.000 40.000 8,000 Roberts provides for doubtful accounts expense at the rate of 3% of net sales. Following adjusting entries at December 31, 2015, the allowance for doubtful accounts balance Select one: O a $14450 O b. $13,250 O c$11,250 O d. $9.250 O e. $11,050 In a periodic inventory system, purchases of merchandise on account are recorded by crediting: Select one: O a. Cost of Goods Sold O b. Accounts Payable O c. Purchases O d. Inventory O e. Cash