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With peace and love If you have under 1000 question answers DO NOT answer or I will downvote. The net income per books of Lisa
With peace and love If you have under 1000 question answers DO NOT answer or I will downvote.
The net income per books of Lisa Anderson Company was determined without knowledge of the errors indicated below. Year 2015 2016 2017 2018 2019 2020 Net Income per Books $51,700 53,820 55,620 57,470 59,670 61,570 Error in Ending Inventory Overstated $3,250 Overstated 9,810 Understated 10,840 No error Understated 1,960 Overstated 7,560 Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Net Income Per Books Overstatement Jan. 1 Errors in Inventories Understatement Jan. 1 Overstatement Dec. 31 Year 2015 $51,700 $ $ $ 2016 53,820 2017 55,620 2018 57,470 2019 59,670 2020 61,570 $ Understatement Dec. 31 Corrected Net Income $ $ $ $Step by Step Solution
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