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Why do I not adjust for question 19 but I need to adjust for question 20? Question 19 0/1pts Net income per books of American
Why do I not adjust for question 19 but I need to adjust for question 20?
Question 19 0/1pts Net income per books of American Company was reported as follows: 2009 $50,000 2010 $52,000 2011 $54,000 Errors were made in the amount reported for ending inventory 2009 Overstated by $3,000 2010 Understated by $9,000 2011 No error What is the combined net income for 2009, 2010, and 2011 after making corrections for all the errors in ending inventory? Correct Answers156000.0 (with margin: 0.0) Question 20 0/1 pts Net income, as reported, for Ukulele Company is as follows: 2015 $94606 It turns out that an error was discovered in the valuation of ending inventory. Ending inventory was overstated by $6551 What is the adjusted net income number after fixing the errorStep by Step Solution
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