Question
Omega Technologies Year Reported Revenue Actual Revenue Reported Expenses Actual Expenses 2021 $2,500,000 $2,200,000 $1,100,000 $1,200,000 2022 $3,000,000 $2,600,000 $1,300,000 $1,400,000 Requirement: Identify the discrepancies
Omega Technologies
Year | Reported Revenue | Actual Revenue | Reported Expenses | Actual Expenses |
2021 | $2,500,000 | $2,200,000 | $1,100,000 | $1,200,000 |
2022 | $3,000,000 | $2,600,000 | $1,300,000 | $1,400,000 |
Requirement: Identify the discrepancies in reported vs. actual revenue and expenses for each year and provide an analysis of their financial impact.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
978-0324300987
