Business, 20.06.2020 16:57 hernsl0263

S13-15 (similar to) Young Corporation discovered in 2019 that it had incorrectly recorded in 2018 a cash payment of $ 95 comma 000 for utilities expense. The correct amount of the utilities expense was $ 20 comma 000. Requirements 1. Determine the effect of the error on the accounting equation in 2018. 2. How should this error be reported in the 2019 financial statements?

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S13-15 (similar to) Young Corporation discovered in 2019 that it had incorrectly recorded in 2018 a...