Question
The net income per books of Martinez Company was determined without knowledge of the errors indicated below. Year Net Income per Books Error in Ending
The net income per books of Martinez Company was determined without knowledge of the errors indicated below.
| Year | Net Income per Books | Error in Ending Inventory | ||||
| 2012 | $53,900 | Overstated | $ 2,930 | |||
| 2013 | 55,880 | Overstated | 9,050 | |||
| 2014 | 57,970 | Understated | 10,220 | |||
| 2015 | 59,940 | No error | ||||
| 2016 | 62,080 | Understated | 1,820 | |||
| 2017 | 64,070 | Overstated | 7,610 | |||
Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors.
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Benfords Law
Authors: Mark J. Nigrini
1st Edition
1118152859, 9781118152850
