Answer Happy

Assignments: ACCT 140 UC X w HOMEWORK CH 6-GRAD y.com/was/ui/v2/assessment-player/index.html?launchid=d8d339ee-2a28-4fba-b60a-0716d3d1bdf1#/question/2 RADED * Question 3 of 8 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Total assets Total liabilities Shareholders equity eTextbook and Medial DuPlessis Corporation incorrectly recorded $20,700 of goods held on consignment for another company as a purchase on account during the year ended December 31, 2021. The physical inventory count, which included the consigned goods, agreed with the perpetual inventory accounting records at year end. What effect, if any, will this error have on total assets, liabilities, and shareholders' equity at December 31, 2021, assuming the company does not detect this error before year end? Save for Later # 3 $ P 4 Overstated Overstated Not be affected V % LO V 5 X $ $ $ (0) HOMEWORK CH 8-GRAD X 6 17 4+ & lyi 7 25000 25000 0 20 * HOMEWORK CH 9-GRAD X 8 fo 9 ADAPTIVE PRACTICE CH 10 X 3.33/5 Attempts: 2 of 3 used no All D O Submit Answer 2 f12 +