Wibber Company prepared income statements that reflected pretax profit of $21,000 for 20A and
$30,000 for 20B. An audit has determined that there were two errors in the inventory amounts as follows
The correct pretax profit amount for each year is (show computations assuming the errors were not corrected):
20A: $________
20B: $________

Question

Wibber Company prepared income statements that reflected pretax profit of $21,000 for 20A and
$30,000 for 20B. An audit has determined that there were two errors in the inventory amounts as follows
  The correct pretax profit amount for each year is (show computations assuming the errors were not corrected):
20A: $________
20B: $________

Quizplus · Accepted Answer

The Answer of Wibber Company prepared income statements that reflected pretax profit of $21,000 for 20A and
$30,000 for 20B. An audit has determined that there were two errors in the inventory amounts as follows
  The correct pretax profit amount for each year is (show computations assuming the errors were not corrected):
20A: $________
20B: $________

Wibber Company Prepared Income Statements That Reflected Pretax Profit of $21,000