The following errors were discovered on the books of Larkspur Inc., during the preparation of the 2017 financial statements, prior to the books being closed for the year. (a) $15,900 of goods held on consignment from Stevens Co were counted as part of Larkspur's inventory at the end of fiscal 2016. The goods were not sold during fiscal 2017, and were returned to Stevens Co. They were not part of the fiscal 2017 year-end inventory count. (b) Goods worth $27,000 were shipped FOB destination on December 29, 2016 and were received by the customer on January 5, 2017. Revenue was recorded in fiscal 2016, when the goods were shipped. Assume a periodic inventory system is being used. The goods shipped were included in the ending inventory count in 2016 (c) During the first week of January 2015, equipment was purchased for $18,600. The entire purchase was recorded with a de bit to Maintenance and Repairs Expense, and a credit to cash. At the time of purchase, Larkspur expected to keep the equipment for four years, and then to sell it for $3,720. Larkspur uses the straight-line method of depreciation for equipment. Prepare the journal entries required to correct the above errors, assuming that Larkspur follows IFRS. Ignore income tax for this problem. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Round ans wers to 0 decimal places, e.g. 5,275.) No. Account Titles and Explanation Credit Debit (a) (b) (c) (To record depreciation)

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