Nickels Company reports net income of $92,000 in 2014. However, ending inventory was understated by $7,000. What
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Nickels Company reports net income of $92,000 in 2014. However, ending inventory was understated by $7,000. What is the correct net income for 2014? What effect, if any, will this error have on total assets as reported in the balance sheet at December 31, 2014?
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Related Book For 
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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