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San Diego State University Operations And Supply Chain Management Assignment Help - Interest


Question - Comprehensive Error Analysis on March 5, 2011, you were hired by Hemingway Inc., a closely held
company, as a staff member of its newly created internal auditing department. While reviewing the
company’s records for 2009 and 2010, you discover that no adjustments have yet been made for the
items listed below. Items
1. Interest income of $14,100 was not accrued at the end of 2009. It was recorded when received in
February 2010.
2. A computer costing $4,000 was expensed when purchased on July 1, 2009. It is expected to have
a 4-year life with no salvage value. The company typically uses straight-line depreciation for all fixed
assets.
3. Research and development costs of $33,000 were incurred early in 2009. They were capitaliz ...Read More

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