In December 2010, the company failed to recognize $4,000 in consulting revenue earned during 2010. This revenue
Question:
(1) The error was found in May 2011 after the 2010 books had been closed and
(2) The error was found in May 2012 after the 2011 books had been closed. Ignore income taxes.
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1 Consulting Revenue 4000 Retained Earnings 4000 2 No correcting entry is necessary ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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