Answer to Question #47159 in Finance for Felisia Fitri Anita
$11,150 that was earned, and (3) insurance of $6,000 that expired. Indicate the combined
effect of the errors on (a) revenues, (b) expenses, and (c) net income for the year ended
November 30, 2010.
(a) revenues will increase by $11,150,
(b) expenses will increase by 1,430+6,000 = $7,430,
(c) net income for the year ended November 30, 2010 will increase by 11,150 - 7,430 = $3,720
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