Solved

Wendy CoMade the Following Errors in 2010: -Ending Inventory Was Overstated

Question 63

Multiple Choice

Wendy Co.made the following errors in 2010: -Ending inventory was overstated by $2,000 \$ 2,000 .
-Beginning inventory was understated by $6,000 \$ 6,000
-Purchaseswere overstated by $3,000 \$ 3,000 .
Reported net income was $15, 000.The correct 2010 net income was


A) $26, 000
B) $20, 000
C) $10, 000
D) $ 4, 000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions