Total income for present year-overstated or understated
At the end of the present year, a company overstated prepaid insurance by $80,000 and understated supplies expense by $100,000. By what amount is total income for the present year overstated or understated? Show your computations. (Ignore the taxes)
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By what amount is total income for the present year overstated or understated? Show your computations. (Ignore the taxes)
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