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vladimir1956 [14]
2 years ago
7

Assume a firm reports net income of 84,000 prior to making adjusting entries for expired rent $6400, depreciation 7600 and suppl

ies used 3,000
Assume that the entries have not been made What effect do these errors have on the reported net income
Mathematics
1 answer:
masha68 [24]2 years ago
6 0

Assume that the entries have not been made. The effect that these errors have on the reported net income is: Net income will be overstated by $17,000.

<h3>Net income</h3>

Using this formula

Net income=Expired rent+Depreciation+Supplies

Let plug in the formula

Net income=$6400+$7600+$3000

Net income=$17,000 (Overstated)

Therefore the net income will be overstated by $17,000.

Learn more about net income here:brainly.com/question/15179196

#SPJ1

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