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Michelle Company made an error that O on understated ending inventory by $5000 on December 31, 2018. It did not correct the error in
Michelle Company made an error that O on understated ending inventory by $5000 on December 31, 2018. It did not correct the error in 2018 or 2019. As a result, owner`s equity was: This is a List of Available Answers Options : A. overstated at December 31, 2018, and understated at December 31, 2019 B. overstated at December 31, 2018, and properly stated at December 31, 2019 C. understated at December 31, 2018, and properly stated at December 31, 2019 D. understated at December 31, 2018, and overstated at December 31, 2019
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The correct answer option is C Explanation We know that Owners equity Asse...
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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
10th Canadian edition Volume 1
978-0134213101, 134213106, 133855376, 978-0133855371
