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Use a "+" to Denote an Item Is Too High

Question 161

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Use a "+" to denote an item is too high as a result of an error, a "-" to denote too low, and a 0 to indicate no effect. What is the effect of each of the following errors on the financial statements of a company, which uses a periodic inventory system? Use a + to denote an item is too high as a result of an error, a - to denote too low, and a 0 to indicate no effect. What is the effect of each of the following errors on the financial statements of a company, which uses a periodic inventory system?

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