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1. Boss Motorcycle Shop sells motorcycles, ATVs, and other related supplies and accessories. During the taking of its physical inventory on December 31, 2010, Boss Motorcycle Shop incorrectly counted its inventory as $195,750 instead of the correct amount of $188,200.
a. State the effect of the error on the December 31, 2010, balance sheet of Boss Motorcycle Shop.
b. State the effect of the error on the income statement of Boss Motorcycle Shop for the year ended December 31, 2010.
Discuss fully the accounting treatment and disclosures that should be accorded the casualty and related contingent losses in the financial statements dated December 31, 2003.
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at december 31 2010 the records of seacrest enterprises provided the following selected and incomplete
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