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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 
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 irventory for 2023 and 2024 was correctly counted. (a) What is the impact on the 2023 financial statements
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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