Leonard corporation reports the following information: correction of overstatement of depreciation expense in prior years, net of

Leonard corporation reports the following information: correction of overstatement of depreciation expense in prior years, net of tax $ 215,000 dividends declared 160,000 net income 500,000 retained earnings, 1/1/12, as reported 2,000,000 leonard should report retained earnings, 1/1/12, as adjusted at a. $1,785,000. b. $2,000,000. c. $2,215,000. d. $2,555,000. and how?

Answers

Option ‘C’ $ 2,215,000

Explanation:

Given data:

Retained Earnings on 1/1/12 = $ 2,000,000

Depreciation of previous years stated OVERSTATED.  which result in Retained Earnings stated UNDER-STATED.

Therefore, the total depreciation amount of Overstated when corrected increase the amount of  Retained earnings.

The Retained Earning balance on 1/1/12 after corrected is calculated as

= $ 2,000,000 + $ 215,000

= $ 2,215,000

Correct Answer = Option ‘C’ $ 2,215,000

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explanation:

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answer: carbon 14 can only be used to determine the age of the organisms that were once living, and igneous rocks are non living.

explanation:

carbon 14 dating is used to determine the age of the sample by estimating the amount of carbon 14 present in the sample and then comparing it with a reference standard.carbon 14 is a isotope of carbon which is radioactive and unstable. carbon 14 is assimilated by all plants and animals throughout their life from carbon dioxide. however, one the organisms die they stop this assimilation and the carbon 14 content starts to decrease.by knowing how much of carbon 14 is left in an organism after his death, one can estimate the age of the organism. the materials whose age can be estimated by carbon 14 method are the organic compounds. however, some inorganic compounds such as aragonite   shell can also be dated.however, if we consider the igneous rocks it is a non living component which never accumulated carbon 14 in it and thus, we cannot use carbon 14 dating method to estimate its age.

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