200. CPA Associates, was organized on January 1, 2009, as a corporation. List the errors that you find in the following financial statements and prepare the corrected statements for the three months...





200. CPA Associates, was organized on January 1, 2009, as a corporation. List the errors that you find in the following financial statements and prepare the corrected statements for the three months ended March 31, 2009.













































































CPA Associates
Income Statement
For the Three Months Ended March 31, 2009






Fees earned







$42,000




Operating expenses:










Salary expense




$9,735







Rent expense




5,200







Wages expense




3,950







Utilities expense




3,225







Miscellaneous expense




4,000







Answering service expense




2,550







Supplies expense




4,000







Total operating expenses







28,000




Net income







$14,000






























































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































May 15, 2022
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