Multiple Choice
Reinhoff Inc. reported total assets of €2,600,000, including €435,000 for inventory, and equity of €1,690,0000 on the December 31, 2014 statement of financial position. Reinhoff subsequently determined that the ending inventory was understated by €63,000. What is the corrected amount of equity for the year?
A) €0.
B) €1,627,000.
C) €1,690,000.
D) €1,753,000.
Correct Answer:
Verified
Correct Answer:
Verified
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