Use a "+" to Denote an Item Is Too High

question 36

Essay

Use a "+" to denote an item is too high as a result of an error,a "-" to denote too low,and a 0 to indicate no effect.What is the effect of each of the following errors on the financial statements of a company which uses the period inventory system?

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Definitions:

Shoes

Components in drum brakes that press against the drum's interior surface to create friction and slow the vehicle.

Holddown Springs

Components that secure brake shoes in place within the drum brake assembly.

Brake Shoes

The metal backing on which the lining material is attached in a drum brake.

Backing Plate

The part of a vehicle's brake system mounted on the rear side of the wheel, serving as a base for other brake components.