Author Question: If ending inventory for the year is overstated, owner's equity reported on the balance sheet at the ... (Read 115 times)

ereecah · **on:** Jul 5, 2018

If ending inventory for the year is overstated, owner's equity reported on the balance sheet at the end of the year isunderstated.
a. True
b. False

Indicate whether the statement is true or false

Question 2

Inside Outfitters sold 200 of merchandise to a customer for cash. The sales tax was 8. How much sales revenue did Inside Outfitters earn?

A) 200
B) 0
C) 216
D) 184