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If ending inventory is understated by $6,000 at December 31, 2021, and assuming an income tax rate of 40%, then the balance of retained
If ending inventory is understated by $6,000 at December 31, 2021, and assuming an income tax rate of 40%, then the balance of retained earnings at December 31, 2022 a. will be understated by $3,600. O b. will be overstated by $3,600. C. will be overstated by $2,400. d. will be understated by $2,400. O e. will not be affected.
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Using Excel & Access for Accounting 2010
Authors: Glenn Owen
3rd edition
1111532672, 978-1111532673
