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Determine the ppa the company should record

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Reference no: EM13992912

1.ABC Company overstated 20Y1 revenue by $10,000. The error also affected 20Y2 by overstating revenue by $5,000. The company discovered the error in 20Y3, which included an overstatement to revenue of $3,000.The company reports only 20Y3 on the current income statement and has a 30% tax rate. Determine the PPA the company should record to correct the error. () represents a decrease to beginning retained earnings.

1. $(12,600) 

2. $(7,000) 

3. $(10,500) 

4. $(15,000)

Reference no: EM13992912

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