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camperraeljackasy camperraeljackasy
  • 16-01-2017
  • Business
Answered

The credit portion of the adjustment for the depletion of a coal mine was credited to the coal mines account. what would this error cause?

Verified Answer :

andriansp andriansp
  • 23-01-2017

Depletion is used as a deduction from the gross income

So if we're wrong in putting the depletion data, it will be very likely that the income statement for the following period would be overstated

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