A review of Anderson Corporation’s books indicates that the errors and omissions pertaining to the balance sheet accounts shown as follows had not been corrected during the applicable years.
The net income per the books is: 2017, $10,000; 2018, $12,000; 2019, $15,000; and 2020, $20,000. No dividends were declared during these years and no adjustments were made to retained earnings. The Retained Earnings balance on December 31, 2020, is $50,000.
Omissions
Required:
Determine the correct net income for the years 2017, 2018, 2019, and 2020, and the adjusted balance sheet accounts as of December 31, 2020. Ignore possible income tax effects.
Financial Accounting
Financial & Managerial Accounting
Accounting Information Systems
Financial And Managerial Accounting
Corporate Financial Accounting
Managerial Accounting: The Cornerstone of Business Decision-Making
College Accounting, Chapters 1-27
Contemporary Marketing
Principles of Economics (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
Foundations of Business (MindTap Course List)
Management, Loose-Leaf Version
Essentials of Economics (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Essentials of Business Communication (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
Accounting Information Systems
MKTG 12:STUDENT ED.-TEXT
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
College Accounting (Book Only): A Career Approach
Financial & Managerial Accounting
Financial Accounting
Accounting (Text Only)
Statistics for Business & Economics, Revised (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Exploring Economics
College Accounting (Book Only): A Career Approach
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Pkg Acc Infor Systems MS VISIO CD
Principles of Macroeconomics (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
Corporate Financial Accounting
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Survey of Accounting (Accounting I)
Cornerstones of Cost Management (Cornerstones Series)
Economics For Today
Macroeconomics
Practical Management Science
Purchasing and Supply Chain Management
Economics (MindTap Course List)
Cornerstones of Financial Accounting
Managerial Accounting
Microeconomics: Private and Public Choice (MindTap Course List)
Understanding Management (MindTap Course List)
MACROECONOMICS FOR TODAY
Principles of Microeconomics
Economics: Private and Public Choice (MindTap Course List)
Micro Economics For Today
Macroeconomics: Private and Public Choice (MindTap Course List)