Assume that the Equipment shown above was acquired by the business five years ago and has a book value of $156,000,but has a current appraised value of $200,000.Hercules Manufacturing's Retained Earnings at December 31,2018,amounts to:
A)$533,000.
B)$345,000.
C)$198,000.
D)$356,000.

Question

Quizplus · Accepted Answer

The Answer of Assume that the Equipment shown above was acquired by the business five years ago and has a book value of $156,000,but has a current appraised value of $200,000.Hercules Manufacturing's Retained Earnings at December 31,2018,amounts to:
A)$533,000.
B)$345,000.
C)$198,000.
D)$356,000.

Assume That the Equipment Shown Above Was Acquired by the Business