Solved: For the month ended february 28 2014 a company capitalized, Accounting Basics

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For the month ended february 28 2014 a company capitalized

Problem

For the month ended February 28, 2014, a company capitalized a $3,000 expenditure that should have been expensed. Depreciation expense for the full month, using the straight-line method, was recorded for $120 in February with respect to this item. Reported operating income for February was $11,700.

a. Calculate the amount of net income that should have been reported for February.

I just need to know where to start or a particular formula that could be used to help me get started. Can you please assist?

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Accounting Basics: For the month ended february 28 2014 a company capitalized

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Accounting Basics: For the month ended february 28 2014 a company capitalized

Reference No:- TGS02593047

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