Since its organization on January 1, 2009, Langley Inc. failed to properly recognize accruals and prepayments. Selected accounts revealed the following information:

Net income reported by the company was:

Compute the corrected net income for the years 2009, 2010, and 2011. (Ignore income taxes.)

Question

Since its organization on January 1, 2009, Langley Inc. failed to properly recognize accruals and prepayments. Selected accounts revealed the following information:
  
Net income reported by the company was:
  
Compute the corrected net income for the years 2009, 2010, and 2011. (Ignore income taxes.)

Quizplus · Accepted Answer

The Answer of Since its organization on January 1, 2009, Langley Inc. failed to properly recognize accruals and prepayments. Selected accounts revealed the following information:
  
Net income reported by the company was:
  
Compute the corrected net income for the years 2009, 2010, and 2011. (Ignore income taxes.)

Since Its Organization on January 1, 2009, Langley Inc