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In July of 2015, the Accountant Discovered an Error Affecting

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In July of 2015, the accountant discovered an error affecting the 2014 computation of amortization expense related to the company's patent. As a result of this error, 2014 amortization expense was understated by $21,000 and 2014 net income after taxes (which are paid at a rate of 30%)was overstated by $14,700.
In July of 2015, the accountant discovered an error affecting the 2014 computation of amortization expense related to the company's patent. As a result of this error, 2014 amortization expense was understated by $21,000 and 2014 net income after taxes (which are paid at a rate of 30%)was overstated by $14,700.

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