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Marin Company incorrectly included $19,400 of goods held on consignment for Cullumber Company in its beginning inventory for the year ended December 31, 2023. The
Marin Company incorrectly included $19,400 of goods held on consignment for Cullumber Company in its beginning inventory for the year ended December 31, 2023. The ending inventory for 2023 and 2024 was correctly counted. (a) What is the impact on the 2023 financial statements? Assets Overstated = No Effect Overstated Understated Media Liabilities + Owner's Equity 4
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Financial Accounting And Reporting A Global Perspective
Authors: Herve Stolowy, Yuan Ding, Luc Paugam
6th Edition
147376730X, 9781473767300
