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$ 5 6 6 , 8 0 0 instead of the correct amount of $ 5 8 3 , 8 0 0 . Enter all
$ instead of the correct amount of $
Enter all amounts as positive numbers.
a State the effect of the error on the December Y balance sheet of Missouri River Supply.
tableBalance Sheet Items,UnderstatedOverstatedAmountMerchandise Inventory,,Current Assets,,Total Assets,,Owners Equity,,
b State the effect of the error on the income statement of Missouri River Supply for the year ended December
tableIncome Statement Items,OverstatedUnderstatedAmountCost of Merchandise Sold,,$ Gross profit, net income B
income statement item cost of merchandise sold, gross profit, net income
D If uncorrected, what would be the effect of the error on the december Y balance sheet?
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