To correct the error in debiting a truck purchase to Trucking Expense.
Definitions:
Earnings per Share
A financial metric calculated by dividing a company's net income by the number of its outstanding shares of common stock.
Common Stock
A form of corporate equity ownership, a type of security that represents ownership in a corporation, with voting rights and a claim on a portion of its profits in the form of dividends.
Preferred Stock
Capital stock that has some preferences over common stock.
Times Interest Earned
A financial ratio that measures a company's ability to meet its interest payments with its earnings before interest and taxes.
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