Year 4 for this question including Total current assets, equipment net, and net income.

prepare a schedule to show the overstatement in the following items at the end of each year over the four-year life of the equipment 1. total current assets; 2 Equipment,net; 3 Net income.

Teccom 2018 banconote cene Points of 7 Save Requirements weet wat 1 Na Requirements 1 ** 6 SO Print Done yah Transcendente ca Heutrement. Perpato cha nne na strony to be and coach out the bus ya elit terment on 2 tarot rotate herri afect on each recht en prenant and the Year 4 X Requirements Nahid 15 1 Total current ? Equipment, et 3 Net income 30 150 EASU CESO Low how the wower Park O Done Year 1 2 3 4 Millions of Euros () 1. Total current assets No effect No effect No effect 2. Equipment, net 4.5 U 3 U 1.5 U 3. Net income 4.5 U 1.5 0 1.50 Requirement 1. Prepare a schedule to show the overstatement or understatement in the following items at the end of each year over the four year ife of the equipment 1. Total current assets, 2 Equipment, net 3. Net income. Select the appropriate effect on each item for each year Let "O represent overstated and represent understated (Amounts in milions. If there is no effect, solo no effect) Year 2 3 Millions of Euros ( No effect No effect 63 15U 150 150 1. Total current assets 2. Equipment, net 3. Net income No effect 4 SU 450 1. Prepare a schedule to show the overstatement or understatement in the following items at the end of each year over the four-year life of the equipment 1. Total current assets 2. Equipment, net 3. Net income Transcontinental is a major telecommunication conglomerate Assume that early in 2018, Transcontinental purchased equipment at a cost of 6 milion euros (60 million) Management expects the equipment to remain in service for four years and estimated residual value to be negligible Transcontinental uses the straight line depreciation method. Because of an accounting error, Transcontinental expensed the entire cost of the equipment at the time of purchase Because Transcontinental operates as a partnership it pays no income taxes Read the facement