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MA_775_DIABLO [31]
3 years ago
10

Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income

. Explain the consequences of this error on the current period's income statement:_______.A. Cost of goods sold will be too high by $5,000.B. Cost of goods sold will be too low by $5,000.C. The correct net income amount should have been $105,000.
Business
1 answer:
mr_godi [17]3 years ago
7 0

Answer:

Cost of goods sold will be too low by $5,000.

Explanation:

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Renee operates a proprietorship selling collectibles over the web, and last year she purchased a building for $24 million for he
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Answer:

$30.1

Explanation:

Adjusted basis refers to the net value of an asset after considering depreciation and capital investments. It is the net value of an asset.

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For Renee, adjusted taxable income will be,

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Sav [38]

Answer:

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Explanation:

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Answer:

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