Solution-The income statement for the month of january

The income statement for the month of january

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Reference no: EM131127459

Assume that the error in Exercise 3-15 was not corrected and that the $4,950 of accrued salaries was included in the first salary payment in January. Indicate which items will be erroneously stated, because of failure to correct the initial error, on

(a) The income statement for the month of January and

(b) The balance sheet as of January 31.

Reference no: EM131127459

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Indicate which items will be erroneously stated : Accrued salaries of $4,950 owed to employees for December 30 and 31 are not considered in preparing the financial statements for the year ended December 31.

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The income statement for the month of january

Reference no: EM131127459

Reference no: EM131127459

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