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Home Q & A Board Other Fields Homework Help Business Accounting
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kimmy12 kimmy12
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Posts: 87
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5 years ago
The September 30, 20x1, physical inventory of JCB appropriately included $3,800 of
merchandise purchased on account, which was not recorded in purchases until October 20x1.
What effect will this error have on September 30, 20x1, assets, liabilities, retained earnings, and
earnings for the year then ended, respectively?
A) Understate; no effect; overstate; overstate
B) No effect; overstate; understate; understate
C) No effect; understate; overstate; overstate
D) No effect; understate; understate; overstate
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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paulinaibarra98paulinaibarra98
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#1
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5 years ago
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kimmy12 Author
wrote...
#2
5 years ago
this helped with my online quiz
wrote...
#3
5 years ago
yw
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