E8-9 solution - No effect Retained earnings No effect No...

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EXERCISE 8-9 Current Year Subsequent Year 1. Working capital Overstated by $120 No effect Current ratio Overstated No effect Retained earnings Overstated by $120 No effect Net income Overstated by $120 Understated by $120 2. Working capital No effect No effect Current ratio Overstated
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Unformatted text preview: No effect Retained earnings No effect No effect Net income No effect No effect 3. Working capital Overstated by $710 No effect Current ratio Overstated No effect Retained earnings Overstated by $710 No effect Net income Overstated by $710 Understated by $710...
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This note was uploaded on 12/02/2011 for the course ECON eco200 taught by Professor Wolfson during the Spring '11 term at University of Toronto.

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