Question
At the end of 2003, Ritzcar Co. fails to accrue sales commissions earned during 2003, but paid in 2004. The error is not repeated in
At the end of 2003, Ritzcar Co. fails to accrue sales commissions earned during 2003, but paid in 2004. The error is not repeated in 2004.
What was the effect of this error on 2003 ending working capital and on the 2004 ending retained earnings balance?
2003 ending working capital
20x4 ending retained earnings
Overstated Overstated
No effect
Overstated
No effect
No effect
Overstated No effect
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
