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he CFO of the Finch Microscope Corporation intentionally misclassified a downstream transportation expense in the amount of 7 3 7 , 2 0 0 as
he CFO of the Finch Microscope Corporation intentionally misclassified a downstream transportation expense in the amount of as a product cost in an accounting period when the company made microscopes and sold microscopes. Finch ewards its officers with bonuses that are based on net earnings. equired Indicate whether the components of the financial statements ie assets, liabilities, stockholders' equity, revenue, expense, and net come would be overstated or understated as a result of the misclassification of the downstream transportation expense. Determine he amount of the overstatement or understatement for each element. lote: If there is no effect, select "Not affected" from the dropdown provided. Enter all answers as positive values. tableAssetsLiabilitiesStockholders equity,,RevenueExpenseNet income,,
he CFO of the Finch Microscope Corporation intentionally misclassified a downstream transportation expense in the amount of as a product cost in an accounting period when the company made microscopes and sold microscopes. Finch ewards its officers with bonuses that are based on net earnings.
equired
Indicate whether the components of the financial statements ie assets, liabilities, stockholders' equity, revenue, expense, and net come would be overstated or understated as a result of the misclassification of the downstream transportation expense. Determine he amount of the overstatement or understatement for each element.
lote: If there is no effect, select "Not affected" from the dropdown provided. Enter all answers as positive values.
tableAssetsLiabilitiesStockholders equity,,RevenueExpenseNet income,,
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