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MargaretS MargaretS
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5 years ago
The errors listed below occurred in 20x3 but were not discovered until much later in 20x4. The
accounting period ends December 31.
Purchases understated $400
Ending inventory overstated 400
Rent expense overstated 400
What net effect did these errors have on 20x3 pretax income?
A) Overstated by $400
B) Overstated by $800
C) Understated by $400
D) Understated by $1,200
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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nsaknsak
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5 years ago
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MargaretS Author
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#2
5 years ago
Electric Light Bulb Correct, thanks!
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