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Compute what is effect of the error on net profit

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Reference no: EM132483006

Question 1: Caravelle Ltd has found an error in its revenue account: an invoice for $6 600 was recorded as revenue in 2018 when it should have been recorded in 2019. The company's income tax rate is 30%, and there was no corresponding error in cost of goods sold. What is the effect of the error on the 2019 net profit?

Reference no: EM132483006

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