Basic accounting practice pdf file
Hi,
The sign for calculating NI is "+" for item "investment opns - expenses (line 34)". I wonder if it should be "-" as the expense needs to be subtracted from the revenue. Thanks!
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Hi,
The sign for calculating NI is "+" for item "investment opns - expenses (line 34)". I wonder if it should be "-" as the expense needs to be subtracted from the revenue. Thanks!
Comments
Yeah it should be a "-"
Good catch! @graham
Thanks for the quick reply!
I get another question for "02b-Answer". Following the steps in the solution, I get $-5467 for NI. Why the final solution (the green highlighted part) is $0? Thanks!
Yeah, I think it's a typo. Graham's final answer is -7700*0.71 which is what you have!
Yes, that was a typo. I've generated 4 new problems with the above issues fixed. Thanks for pointing it out.