Net profit was calculated as being $10,200. It was later discovered that capital expenditure of $3,000 had been treated as revenue expenditure, and revenue receipts of $1,400 had been treated as capital receipts. What is the net profit after correcting this error?

Net profit was calculated as being $10,200. It was later discovered that capital expenditure of $3,000 had been treated as revenue expenditure, and revenue receipts of $1,400 had been treated as capital receipts. What is the net profit after correcting this error?

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Description: Net profit was calculated as being $10,200. It was later discovered that capital expenditure of $3,000had been treated as revenue expenditure, and revenue receipts of $1,400 had been treated as capitalreceipts.What is the net profit after correcting

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 8CE

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