Linx Company discovers in 2007 that its ending in- ventory at December 31, 2006, was $5,000 under-
Question:
Linx Company discovers in 2007 that its ending in- ventory at December 31, 2006, was $5,000 under- stated. What effect will this error have on
(a) 2006 net income,
(b) 2007 net income, and
(c) the com- bined net income for the 2 years?
AppendixLO1
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Related Book For
Financial Accounting Tools For Business Decision Making
ISBN: 9780471730514
4th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Question Posted:
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