Question 12 Belt took a plytical Inventory at the end of the year and determined...
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Question 12 Belt took a plytical Inventory at the end of the year and determined that $650,000 of goods were on band. In addition, Bell, Inc. determined that $50,000 of goods that were intrat that were shoped to b. shipping were actually received two days after the inventory count and that the company had $75,000 of goods out on consignment. WALDM Ball report os inventory at the end of the year? 1775,00 72018 V.COM YOU LATER SULTI ANNUVIR Question 13 Feine Co. accepted delivery of merchandise which it purchased on account. As of December 31, Peine had recorded the transaction, but did not include the merchandise Inventory. The effect of this on its financial statements for December 31 would be net income was overstated and current assets were understated. Onecore was understated and current liabilities were overstated. Onet Income, current assets, and retained earnings were understated. O net income was correct and current assets were understated
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