Income before taxes-overstated or understated
Problem:
Ending inventory 2005 = 5,000 overstatedinsurance expense 2005 = 2,400 understatedAssuming that the errors were no corrected, by what amount will 2005 income before taxes be overstated or understated?Please explain.
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Assuming that the errors were no corrected, by what amount will 2005 income before taxes be overstated or understated?
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