Multiple Choice
The correct 2010 net income for Margie Company, after error corrections, was $56, 000.Two errors were found after net income was first reported.The January 1, 2010 inventory and the December 31, 2010, inventory were overstated by $4, 000 and $9, 000, respectively.The net income that must have been originally reported was
A) $43, 000
B) $51, 000
C) $61, 000
D) $69, 000
Correct Answer:
Verified
Correct Answer:
Verified
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