The net income per books of Linda Patrick Company was determined without knowledge of the errors indicated.

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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

ISBN: 978-1119503668

17th edition

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

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Question Posted: Nov 26, 2019 07:08 AM

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The net income per books of Linda Patrick Company was determined without knowledge of the errors indicated.

Question:

Net Income per Books Error in Ending Year Inventory 2015 2016 2017 2018 2019 $50,000 Overstated $ 3,000 9,000 Overstated Understated No error 54,000 11,000 56,000 2,000 8,000 Understated 58,000 60,000 Overstated 2020

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Year 2015 2016 2017 2018 2019 2020 Net Income Per Books 50000 52000 ...View the full answer

Intermediate Accounting

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