Continuing Case Solution
32
Chapter 22
Excel File Solution
Continuing Case Solution
33
Worksheet Analysis of Changes in Net Income
Balance Sheet Correction at December 31, 2013
2011 2012 2013 Total Debit Credit Account
Net income as reported (Excel 4a)
703,892
331,500
373,48
8
1,408,880
Inventory overstated 12/31/11
(32,000)
32,000
–
–
Unexpired insurance 12/31/12
–
9,500
(9,500)
–
Correct depreciation
(22,000)
(22,000)
(22,000)
(66,000)
(66,000)
Accumulated Depr.
Unpaid wages
–
12/31/2011
(26,000)
26,000
–
–