Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Aug 2017 My Price 4.00

effect of the understatement

It is discovered in 2011 that ending inventory in 2009 was understated. What is the effect of the understatement on the following:

2009: Cost of goods sold

Net income

Ending retained earnings

2010: Net purchases

Cost of goods sold

Net income

Ending retained earnings

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Aug 2017 09:08 PM My Price 4.00

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