Kindy explain each answers.

State the effect of each of the following errors committed in

$20$X$6$ on the balance sheets and the income statements prepared for $20$X$6$ and $20$X$7$:

a$)$ The ending inventory was understated as a result of an error in the count of goods on hand.

b$)$ The ending inventory was overstated as a result of the inclusion of goods acquired and held on a consignment basis.

c$)$ A purchase of merchandise at the end of $20$X$6$ was not recorded until payment was made for the goods in

$20$X$7$; the goods purchased were included in the inventory at the end of $20$X$6.$

d$)$ A sale of merchandise at the end of $20$X$6$ was not recorded until cash was received for the goods in

$20$X$7$; the goods sold were excluded from the inventory at the end of $20$X$6.$

e$)$ Goods shipped to consignee in $20$X$6$ were reported as sales; goods in hands of consignees at the end of $20$X$6$ were not recognized for inventory purposes; sale of the goods in $20$X$7$ and collection on such sales were recorded as credits to the receivables established with consignee in $20$X$6.$