AME Did Not Account Properly for the Deferrals and Accruals

question 49

Essay

AME did not account properly for the deferrals and accruals given below: (a)The correct income for 20x1 was $ _.
(b)The correct income for 20x2 was $ _.

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Definitions:

Supply Chain

The system of organizations, people, activities, information, and resources involved in supplying a product or service from suppliers to consumers.

Logistics Costs

Expenses involved in the procurement, storage, and transportation of goods from the manufacturer to the end user.

Retail Price

the final cost at which a product is sold to consumers, including any markups by retailers.

Supply Chain

The network of all the individuals, organizations, resources, activities, and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, and ultimately to the end consumer.