Question 17 0 / 4.5 pts Shetland Company reported net income on the year- end financial statements of $132,946. However, errors in inventory were discovered after the reports were issued. If inventory was understated by $12,270, how much net income did the company actually earn? swered 120,676 Answer 145,216
Question 17 0 / 4.5 pts Shetland Company reported net income on the year- end financial statements of $132,946. However, errors in inventory were discovered after the reports were issued. If inventory was understated by $12,270, how much net income did the company actually earn? swered 120,676 Answer 145,216
Chapter10: Inventory
Section: Chapter Questions
Problem 15EA: Shetland Company reported net income on the year-end financial statements of $125,000. However,...
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![Question 17
0 / 4.5 pts
Shetland Company reported net income on the year-
end financial statements of $132,946. However,
errors in inventory were discovered after the reports
were issued. If inventory was understated by
$12,270, how much net income did the company
actually earn?
swered
120,676
Answer
145,216](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F565f9974-fd66-4822-9709-75efc7f6244f%2F18126a71-f37f-4e2f-b197-91a5d02cae99%2Fh7sh84h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 17
0 / 4.5 pts
Shetland Company reported net income on the year-
end financial statements of $132,946. However,
errors in inventory were discovered after the reports
were issued. If inventory was understated by
$12,270, how much net income did the company
actually earn?
swered
120,676
Answer
145,216
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