Petunia Inc. has the following statement of financial position information available: 15. Current Assets...
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Accounting
Petunia Inc. has the following statement of financial position information available:
Current Assets Current Liabilities
Cash $ Accounts Payable $
Accounts Receivable Accrued Liabilities
Inventory Deferred Revenue
The inventory and accounts payable accounts are overstated by $ What is Petunias actual current ratio and what was the impact of the inventory error on the current ratio calculation? round to decimal places
Current Ratio Impact
a Overstated
b Understated
c Overstated
d Understated
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