Financial Accounting
Financial Accounting
17th Edition
ISBN: 9781259692390
Author: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
Publisher: McGraw-Hill Education
Question
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Chapter 8, Problem 8E

a.

To determine

Ascertain the correct net income figures for the year 2017 and 2018.

b.

To determine

Ascertain the gross profit amount and gross profit percentage for each year on the basis of corrected data.

c.

To determine

State the correction that company B should make in the amount of owner’s equity at the year-end 2017 and 2018.

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