After financial statements for 2011 were prepared it is discovered that credit notes for 4,000 issued by

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After financial statements for 2011 were prepared it is discovered that credit notes for £4,000 issued by suppliers have not been accounted for. The impact of correcting this error would be:

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 31, 2023 02:26 AM

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After financial statements for 2011 were prepared it is discovered that credit notes for 4,000 issued by

Question:

Gross profit Net profit -£4,000 a b +£4,000 c+£4,000 d -£4,000 +£4,000 -£4,000 Net assets -£4,000 -£4,000 +£4,000 -£4,000

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Financial Accounting An Introduction

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