1. Ajustment for accrued fees was omitted at march 31, the end of the current year. indicate which items will be in error, because of the omiision on the income statement for the current year and the balance sheet as of march 31. also indicate whether the items in error will be overstated or undertated.
2. for a recent year, barnes & noble inc. reported property, plant, and equipment of $2,400,685,000 and accumulated depreciation of $ 1,576,052,000.
a. what was the book value of the fixed assets?
b. would the book values of barnes&noble's fixed assets normally approximate their fair market values?