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O
ocartagena_9190-
Level 1
April 28, 2023
Question

M-1, line 1, is not matching the amount reported on the financial reporting statements for my corporation’s book income. What is the problem? how i can solve it?

  • April 28, 2023
  • 2 replies
  • 3 views
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2 replies

sjrcpa
sjrcpa
Level 15
April 28, 2023

You have missed something. Go back through your book and tax trial balances and Tax Journal Entries and see what it is.

The more I know the more I don’t know.
    IRonMaN
    IRonMaN
    Level 15
    April 28, 2023

    I think you transposed the number for rents.

     

    Hey, I could be right.  When someone posts a question that assumes we are looking over their shoulder, you have to start somewhere.  But now that I think of it, I think the total for sales was transposed, not rents. 😬

    Slava Ukraini!
      sjrcpa
      sjrcpa
      Level 15
      April 28, 2023

      Of course. If the difference is divisible by 9, you made a transposition error. That's usually the first thing I check. My brain is still not fully functioning.

      The more I know the more I don’t know.
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