Sample Essay

(To adjust the amount of warranty expenses)

5.         Sales                                                                                        $100,000

Accounts Receivable                                                                          $100,000

(To rectify entry for credit sales)

6.         Returns expense                                                                      $10,300

Allowance for Returns                                                                        $10,300

(To adjust allowance for returns)

7.         Doubtful accounts expense                                                     $5,960

Allowance for doubtful accounts                                                       $5,960

(To adjust allowance for doubtful accounts)


Schedule for Computation of Correct Net Income
Reported Net Income   252,687
Add: decrease in Cost of Goods Sold   6,300
Less: decrease in Merchandise Inventory 60,000  
Less: Warranty Expenses 20,000  
Less: Decrease in Sales 100,000  
Less: Returns Expense 10,300  
Less: Doubtful accounts expense 5,960 (196,260)
Adjusted Net Income 62,727


Kindly order term papers, essays, research papers, dissertations, thesis, book reports from the order page.


Related Pages

Our Guarantees

  • 100% satisfaction of our clients is our mission.
  • We are well aware of the evil of plagiarism spreading these days. Our technical core of writers are skilled in almost all forms of writing and do not believe in plagiarism. We guarantee you that the writing we do for you is 101% plagiarism free.
  • We guarantee that your privacy and confidentiality is our greatest priority
  • We guarantee that you will never regret for choosing us we are here to improve field of academics by providing quality and excellence?