The net income per books of Wu Ltd. was determined without knowledge of the following errors. Instructions

Question:

The net income per books of Wu Ltd. was determined without knowledge of the following errors.
Year Net Income per Books Error in Ending Inventory HK$50,000 Overstated HK$ 5,000 2015 2016 52,000 Overstated 9,000 11,

Instructions
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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Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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