Homework Answers
Waterway Corporation
| 2019 | 2020 | |
| Net income, as reported | 29600 | 39000 |
| Rent received in 2019, earned in 2020 | -1080 | 1080 |
| Salaries and wages not accrued, 12/31/18 | 1120 | |
| Salaries and wages not accrued, 12/31/19 | -1190 | 1190 |
| Salaries and wages not accrued, 12/31/20 | -930 | |
| Inventory of supplies, 12/31/18 | -1120 | |
| Inventory of supplies, 12/31/19 | 1190 | -1190 |
| Inventory of supplies, 12/31/20 | 930 | |
| Corrected net income $ | 28520 | 40080 |
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