The net income per books of Alfonso Company was determined without knowledge of the errors indicated. Instructions
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Instructions
Prepare a work sheet to show the adjusted net income figure for each of the 6 years after taking into account the inventoryerrors.
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Net Income per Books $50,000 71,000 78,000 65,000 68,000 72,000 Error in Ending Inventory Understated $ 8,000 Year 2010 2011 2012 2013 2014 2015 Overstated No error Overstated Understated Understated 6,000 6,000 3,000 2,000
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Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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