Effect of the error # 6 for the year 2020 Answer the ff: O-Overstated U-Understated X-No effect Purchases Cost of Sales Net income Inventory Accounts Payable RE before closing RE after closing
Effect of the error # 6 for the year 2020 Answer the ff: O-Overstated U-Understated X-No effect Purchases Cost of Sales Net income Inventory Accounts Payable RE before closing RE after closing
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 17E: Errors A company that uses the periodic inventory system makes the following errors: 1. It omits a...
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Effect of the error # 6 for the year 2020
Answer the ff:
O-Overstated | U-Understated | X-No effect | |
Purchases | |||
Cost of Sales | |||
Net income | |||
Inventory | |||
Accounts Payable | |||
RE before closing | |||
RE after closing |
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