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Calculate the amount that the total assets overstated

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Question - On January 1, 2026, Betty DeRose, Inc. purchased a new machine for $160,000. The machine was assigned an eight year life and an $11,200 residual value. The machine was to be depreciated using the double-declining balance method. In calculating the depreciation on the machine, however, the company accountant incorrectly used the straight-line method. Assume the error is not discovered. Calculate the amount that the total assets in the December 31, 2029 balance sheet would be overstated by due to this error.

Reference no: EM133061189

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