Costco reported income before income taxes

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Reference no: EM131222828

For a recent period, the balance sheet for Costco Wholesale Corporation reported accrued expenses of $2,890 million. For the same period, Costco reported income before income taxes of $2,767 million. Assume that the adjusting entry for $2,890 million of accrued expenses was not recorded at the end of the current period. What would have been the income (loss) before income taxes? Enter your answer as a positive amount, even if it is a loss.

$ million INCOME BEFORE TAXES/LOSS BEFORE TAXES?

The accountant for Healthy Life Company, a medical services consulting firm, mistakenly omitted adjusting entries for (a) unearned revenue earned during the year ($34,900) and (b) accrued wages ($12,770). If the net income for the current year had been $196,400, what would have been the correct net income if the proper adjusting entries had been made?

Reference no: EM131222828

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Costco reported income before income taxes : For a recent period, the balance sheet for Costco Wholesale Corporation reported accrued expenses of $2,890 million. For the same period, Costco reported income before income taxes of $2,767 million. The accountant for Healthy Life Company, a medical..

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