The Red Valley Company maintaine perpetual inventory records. Although its inventory records indicated $18.000 in the...
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The Red Valley Company maintaine perpetual inventory records. Although its inventory records indicated $18.000 in the inventory a phyical count showed only $16,250. Which of the following answers indicates the effect of the necessary write-down? Assets Liab Equity Rev Exp Net inc Cash Fiow I1750) NA (1,750) NA 1,750 1.750) NA NA 1,750 (1,750) NA 1,750 11,7501 NA 16,250 NA 16,250 16,250 16,250 IA NA 16,250 (18,0000 NA (18,000) (18.0001 (18,000) NA NA The Red Valley Company maintaine perpetual inventory records. Although its inventory records indicated $18.000 in the inventory a phyical count showed only $16,250. Which of the following answers indicates the effect of the necessary write-down? Assets Liab Equity Rev Exp Net inc Cash Fiow I1750) NA (1,750) NA 1,750 1.750) NA NA 1,750 (1,750) NA 1,750 11,7501 NA 16,250 NA 16,250 16,250 16,250 IA NA 16,250 (18,0000 NA (18,000) (18.0001 (18,000) NA NA
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Answer Asset will decrease by 1750 Expenses will increa... View the full answer
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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