In 2015,Antiques,Inc

question 268

Essay

In 2015,Antiques,Inc.incorrectly recorded ending inventory as $970,000 instead of $790,000.The controller discovered the error in 2017 when reviewing final entries for 2016 financial statements.The 2016 ending inventory amount was correct.Tax rates for all years is 40%.Which one of the following entries is correctly written and dated?
A)
In 2015,Antiques,Inc.incorrectly recorded ending inventory as $970,000 instead of $790,000.The controller discovered the error in 2017 when reviewing final entries for 2016 financial statements.The 2016 ending inventory amount was correct.Tax rates for all years is 40%.Which one of the following entries is correctly written and dated? A) B) C) D)
B)
In 2015,Antiques,Inc.incorrectly recorded ending inventory as $970,000 instead of $790,000.The controller discovered the error in 2017 when reviewing final entries for 2016 financial statements.The 2016 ending inventory amount was correct.Tax rates for all years is 40%.Which one of the following entries is correctly written and dated? A) B) C) D)
C)
In 2015,Antiques,Inc.incorrectly recorded ending inventory as $970,000 instead of $790,000.The controller discovered the error in 2017 when reviewing final entries for 2016 financial statements.The 2016 ending inventory amount was correct.Tax rates for all years is 40%.Which one of the following entries is correctly written and dated? A) B) C) D)
D)
In 2015,Antiques,Inc.incorrectly recorded ending inventory as $970,000 instead of $790,000.The controller discovered the error in 2017 when reviewing final entries for 2016 financial statements.The 2016 ending inventory amount was correct.Tax rates for all years is 40%.Which one of the following entries is correctly written and dated? A) B) C) D)

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