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would appreciate if asnwers were put in same format as Wiley has as I posted this before but wit the answer I got could not
would appreciate if asnwers were put in same format as Wiley has as I posted this before but wit the answer I got could not tell what is what
and please show calculations and explinations thank you :)
Question 5 of 6 3.59/5 II! The net income per books of Sandra Robinson Company was determined without knowledge of the errors indicated below. Year 2015 2016 2017 2018 2019 2020 Net Income per Books $48,000 49,810 51,980 53,850 55,690 57,520 Error in Ending Inventory Overstated $ 2,890 Overstated 8,480 Understated 11.030 No error Understated 2,020 Overstated 7,480 Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Overstatement Jan. 1 Errors in Inventories Understatement Jan. 1 Net Income Per Books $48,000 Overst Dei Year 2015 $ 2016 49,810 2017 51.980 2018 53,850 2019 55,690 i 2020 57,520 $ 316,850 Question 5 of 6 3.59/5 The net income per books of Sandra Robinson Company was determined without knowledge of the errors indicated below. Year 2015 2016 2017 2018 2019 2020 Net Income per Books $48,000 49,810 51,980 53,850 55,690 57.520 Error in Ending Inventory Overstated $2,890 Overstated 8.480 Understated 11.030 No error Understated 2,020 Overstated 7.480 Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Errors in Inventories Understatement Overstatement Understatement Corrected Net Jan. 1 Dec. 31 Dec. 31 Income 2890 $ 45110 i 8480 i 41,330 11.030 63010 53850 2020 57.710 7480 i i 50,040 $ 311050Step by Step Solution
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