Leah Co Reported $7,000 of Net Income for 2016

question 32

Multiple Choice

Leah Co. reported $7,000 of net income for 2016. The following errors were then discovered: · Ending 2015 accrued expense was understated by $800.
· Ending 2016 unearned revenue was overstated by $75.
· Ending 2015 unearned revenue was overstated by $380.
Ignoring income taxes, what is the correct amount of 2016 net income?

• A) $6,505
• B) $5,895
• C) $7,495
• D) $6,655

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