Use the Following Information for Questions 64 and 65

question 47

Multiple Choice

Use the following information for questions 64 and 65.
Link Co. purchased machinery that cost $1,800,000 on January 4, 2013. The entire cost was recorded as an expense. The machinery has a nine-year life and a $120,000 residual value. The error was discovered on December 20, 2015. Ignore income tax considerations.
-Link's income statement for the year ended December 31, 2015, should show the cumulative effect of this error in the amount of

• A) $1,613,333.
• B) $1,426,667.
• C) $1,240,000.
• D) $0.

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Definitions:

Benzene

A colorless, flammable, ring-shaped hydrocarbon with the formula C6H6, known for its role in organic chemistry as a building block for more complex molecules.

Cyclohexane

A colorless, flammable liquid with a distinctive detergent-like smell, commonly used as an organic solvent and a precursor to nylon.

Aromatic

Relates to organic compounds that contain one or more benzene rings or similar ring structures, characterized by a distinct smell and stability.

Fragrant

Fragrant refers to having a pleasant or sweet smell, commonly associated with flowers, plants, and certain chemical compounds.