1. Audit Adjustment #11 in 20X9 plant.xlxs WP 11.4 causes a. Liabilities to...
Question:
1. Audit Adjustment #11 in 20X9 plant.xlxs WP 11.4 causes
a. Liabilities to decrease
b. Assets to increase
c. Net income before tax to decrease
d. Cash to increase
2. The final audited balance of Factory Equipment is
a. $357,496,940
b. $642,496,940
c. $148,550,000
d. $360,000,000
3. The final audited balance of Accumulated Depreciation Factory Equipment is
a. $603,900,000
b. $282,460,000
c. $148,550,000
d. $147,460,000
4. The net income before taxes effect of Audit Adjustments 10 and 11 is
a. Decrease 3,890,000
b. Increase 3,890,000
c. Decrease 800,000
d. Increase 3,090,000
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill