By what amount will 2009 operating income be overstated, Accounting Basics

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By what amount will 2009 operating income be overstated

The financial statements of Crescent Corporation for 2008 & 2009 contained the following errors:
Ending inventory -- 2008 = $14,000 overstated
-- 2009 = $20,000 understated

Rent Expense -- 2008 = $4,800 understated
-- 2009 = $6,600 overstated
Assuming that none of the errors were detected or corrected, by what amount will 2009 operating income be overstated or understated?

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Accounting Basics: By what amount will 2009 operating income be overstated

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Accounting Basics: By what amount will 2009 operating income be overstated

Reference No:- TGS0102779

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

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Accounting Basics: By what amount will 2009 operating income be overstated

Reference No:- TGS0102779

Recent Questions Asked Accounting Basics

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