In 20x4,a firm discovered that $10,000 of equipment purchased on 1/1/x1 was expensed in full.The equipment has a ten-year life,has no residual value,and should have been depreciated on the straight-line basis.The error is corrected.As a result,the comparative 20x3 and 20x4 financial statements will show what amounts as adjustments to the beginning balances of retained earnings dated:

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The Answer of In 20x4,a firm discovered that $10,000 of equipment purchased on 1/1/x1 was expensed in full.The equipment has a ten-year life,has no residual value,and should have been depreciated on the straight-line basis.The error is corrected.As a result,the comparative 20x3 and 20x4 financial statements will show what amounts as adjustments to the beginning balances of retained earnings dated:

In 20x4,a Firm Discovered That $10,000 of Equipment Purchased on 1/1/x1