Question: For each key financial statement figure-(a), (b), (c), and (d) below-prepare a table to show t correct the reported amounts. (Amounts to be deducted must
For each key financial statement figure-(a), (b), (c), and (d) below-prepare a table to show t correct the reported amounts. (Amounts to be deducted must be entered with a minus sign.) 2016 2017 Cost of goods Reported amount Adjustments for. 1231/2016 S 615,000 S 957,000 S 780.000 (56,000) 56,000 error 12/31/2017 20,000 (20,000) 559,000 1,033,000 760,000 error Corrected amount Net income: Reported amount Adjustments for: error 241,000 230,000 s 28500 56,000 (56,000) 12/31/2016 12/31/2017 error (20,000) 20,0000 286,000 209,000 261,000 Corrected amount Total current Reported amount s 1,255,0001.365,000s 1,200,000 Adjustments for: 12/31/2016 56,000 error 12/31/2017 error (20,000) $ 1,311.000 1.345,000 1,200,000 Corrected amount Reported amount 1.387,000 S 1.530,000 s 1.242.000 12/31/2016 for 56,000 12/31/2017 error (20,000) Corrected amount $ 1,443,000 S 1,510,000 $ 1,242,000 Required 1 Required 2> K Prev 11 of 12 Next
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