2022, Draper Company discovered errors made in 2019-2021, its first thre years of operation 2021 2020 2019 (tems.not.recognized: Prepaid expenses $1,300 $900 $550 Accrued expenses 950 700 800 Other information Reported net income $23,000 $25,000 $20,000 Dividends declared and paid 4,100 2,600 5,000 Common stock and odditional paid in capital at 12/31 22,000 17,000 15,000

2022, Draper Company discovered errors made in 2019-2021, its first thre years of operation 2021 2020 2019 (tems.not.recognized: Prepaid expenses $1,300 $900 $550 Accrued expenses 950 700 800 Other information Reported net income $23,000 $25,000 $20,000 Dividends declared and paid 4,100 2,600 5,000 Common stock and odditional paid in capital at 12/31 22,000 17,000 15,000

Name: In 2022, Draper Company discovered errors made in 2019-2021, its firs
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Description: In 2022, Draper Company discovered errors made in 2019-2021, its first three years of operation.202120202019Items not recognized:Prepaid expenses$1,300$900$550Accrued expenses950700800Other informationReported net income$23,000$25,000$20,000Dividend

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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