A business's draft statement of financial position reported total net assets of $600000. The following errors were then found. 1. A $10000 long-term loan had not been entered in the records. It was borrowed on the final day of the financial year. 2. Closing inventory had been recorded at $20000 too high. 3. Depreciation had been recorded at $15000 too low. What is the correct total net assets value?
- A$555000
- B$565000
- C$595000
- D$605000