Question: Exercise 5-2 Error correction (LO5-2) Bettner, Inc., is a calendar-year corporation whose financial statements for 200 and 201 included errors as follows: Assume that inventory

Exercise 5-2 Error correction (LO5-2) Bettner, Inc., is a calendar-year corporation

Exercise 5-2 Error correction (LO5-2) Bettner, Inc., is a calendar-year corporation whose financial statements for 200 and 201 included errors as follows: Assume that inventory purchases were recorded correctly and that no correcting entries were made at December 31, 20X0, or December 31, 20X1. The errors were discovered in 20X2, after the 201 financial statements were issued. Required: 1. Ignoring income taxes, prepare the journal entry Bettner would make in 202 to correct the errors. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) Journal entry worksheet Prepare the entry to correct the depreciation and inventory misstatements. Note: Enter debits before credits

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