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B. Give the entry to bring the books of the company up to date in 2019, assuming that the books have been closed for 2018
B. Give the entry to bring the books of the company up to date in 2019, assuming that the books have been closed for 2018
Vance Company reported net incomes for a three-year period as follows 2016, $193,300; 2017, $198,900; 2018, $182,400 In reviewing the accounts in 2019 after the books for the prior year have been closed, you find that the following errors have been made in summarizing activities: 2016 2017 2018 $38,700 $52,400 $27,400 Understatement of accrued advertising expense 9,400 13,500 10,100 Overstatement of ending inventory Determine corrected net incomes for 2016, 2017, and 2018. Corrected Net Income 2016 2017 2018 Click if you would like to Show Work for thisStep by Step Solution
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