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Thorn Retail Inc. 2015 Financial Adjustments by Let's Talk With Hassan is a document available to read on EtoBox.

What is Thorn Retail Inc. 2015 Financial Adjustments about?

Thorn Retail Inc. discovered an error in its accounting for inventory transportation costs in 2015. It had been expensing all transportation costs rather than capitalizing some as inventory costs. It estimated that $29,586 of transportation costs in 2014 and $30,116 in 2015 should have been capitalized as inventory. Making this adjustment would increase net income in 2014 and decrease retained earnings at the start and end of 2015.

Author

Let's Talk With Hassan

Language

EN