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QUESTION 4. For each of the listed errors, show the effect: and show me how you figured these out. Errors were discovered in 2022
QUESTION 4. For each of the listed errors, show the effect: and show me how you figured these out. Errors were discovered in 2022 in the third quarter. 1. Ending inventory for 2021 included goods held on consignment: 2021 financial statements 2022 financial statements 2. Recorded cash received as revenue in 2021, but revenue was actually earned in 2022: 2021 financial statements 2022 financial statements 3. Did not record 3-year warranty cost on sales made in 2021: 2021 financial statements 2022 financial statements Income Assets Effect of Error on: Liabilities Equity YOU MUST SHOW LABELED CALCULATIONS ON THE FINAL ANSWERS TO BE GRADED!
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael H. Granof, Saleha B. Khumawala
6th edition
978-1-119-4958, 9781118473047, 1118155971, 1118473043, 978-1118155974
