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The following information came from an IRS audit of a sole proprietor named John Doe. All of the items shown in the information below are
The following information came from an IRS audit of a sole proprietor named John Doe. All of the items shown in the information below are cash (receipts or payments) unless otherwise indicated. Using the "Cash T " approach, compute the probable over/understatement of income as would be determined by the IRS agent. 'The bank account balances have already been reconciled to the bank statements. Show your complete computations in the Final Cash.T format as shown in Table 6.2 in your textbook. Clearly indicate the amount of vour potential overiunderstatement income
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