Question
Error in physical count in an auction company (consignee): goods held on consignment ($15,000) were included in physical inventory in 2020. Identify whether the following
Error in physical count in an auction company (consignee): goods held on consignment ($15,000) were included in physical inventory in 2020. Identify whether the following accounts are overstated, understated, or unaffected in 2020 and 2021 as a result of this inventory error.
2020 2021
Total Assets
Net Income
Retained Earnings
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QuickBooks A Basic Guide To Learn The Principles Of Bookkeeping And Accounting For Beginners
Authors: Marcus Smalling
1st Edition
1655431773, 978-1655431777
