Moonland Company's income statement contained the following errors: Inventory at January 1, 2018, overstated by $6,000 Depreciation

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Moonland Company's income statement contained the following errors:

Inventory at January 1, 2018, overstated by $6,000

Depreciation expense for 2018 understated by $1,000

What is the effect of the errors on 2018 income before taxes?

Related Book For answer-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: Jun 17, 2024 07:15 PM

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Moonland Company's income statement contained the following errors: Inventory at January 1, 2018, overstated by $6,000 Depreciation

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Intermediate Accounting Reporting and Analysis

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