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Kazeer [188]
2 years ago
11

During the taking of its physical inventory on December 31, Almond Supplies Company incorrectly counted its inventory as $545,00

0 instead of the correct amount of $554,000. Indicate the effects of the misstatement on Almond Supplies Company’s balance sheet and income statement for the year ended December 31.
Business
1 answer:
IceJOKER [234]2 years ago
5 0

Answer and Explanation:

The effect of undervaluation of Inventory is shown below:-

Inventory Understated = Inventory counted + Correct value of inventory

= $545,000 - $554,000

= $9,000

Now, the effect of undervaluation of Inventory is

Cost of goods overstated by $9,000

Net income understated by $9,000

Retained earning understated by $9,000

Assets (Current assets - Inventory) understated by $9,000

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Answer:

b. −1,002.5

Explanation:

economic profit = accounting profit - opportunity costs

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economic annual profit = $65,760 - $66,762.50 = -$1,002.50

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Roland is filing his federal income tax return with the 1040ez form, and he received two w-2 forms. on one, $2620 in federal inc
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In asking consumers what career its famous barbie doll should pursue next, toymaker mattel was using ________.
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1 year ago
Daniel Kipper is a produce farmer in northern California. His major customers are grocery stores in the Midwest. Daniel's produc
Scrat [10]

Answer:

The correct answer is A. Trucks.

Explanation:

To think about transport is to think of trucks. Ground transportation is omnipresent in our lives and roads and trucks are its backbone. But ground transportation has many different forms, which translates into very different types of vehicles. Depending on the type of merchandise to be transported, the dimensions or structure of the vehicle, we must choose the one that best suits our needs.

In land transport, the shape and equipment of trucks make them more appropriate for some types of shipments or materials.

Canvas truck (or tauliner) : This type of trailer is the most common and its semi-trailer is covered by the sides and above with tarps, which can be removed. This allows you to be very comfortable for loading and unloading and can be adapted to a large number of materials, as well as being suitable for transporting products that are difficult to load.

Open platform : In this case the platform where the load goes is open (although it may be partially covered by the sides depending on the merchandise and the possibility that it moves). Although it also offers many options, it is usually used for heavy goods, construction, etc.

Refrigerators : As the name implies, refrigerators are the trucks in charge of transporting the merchandise to be transported refrigerated by land. Depending on whether they have cold generation systems or only insulation with the outside they can be refrigerators, refrigerated or isothermal. Food is the most common customer of this type of vehicles.

Although they are less frequent, there are also calorific trucks to keep the temperature above a certain number of degrees.

Tank : Very common ADR merchandise, tanks are used to transport liquid, gaseous and chemical products, which have particular safety requirements.

Closed : closed trucks, as opposed to tarpaulins, have a rigid structure in the cargo compartment. This means that they can only be loaded from the rear, while the canvas ones can also be loaded from the sides. They are vehicles commonly used for urban delivery and parcel delivery, although there are also closed box trailers.

Car holder : These trucks are specifically designed for land car transport. There are two models of car carriers: the open, which is the most common, and the closed. The latter does not allow vehicles to be seen from outside and is sometimes used to transport the most expensive cars.

Cage Truck : Cage trucks are used to transport live animals. To do this, they have part of the sides or roof open so that air reaches the animals and there is sufficient ventilation.

Containers : The containers are watertight cargo structures, which allows them to protect the merchandise from the weather. They are used for multimodal transport and to facilitate loading and unloading of container ships.

The infinity of materials to transport makes the variety of trucks continue and is very long: hopper (often used for earthmoving), stakes (log transport, among others), concrete mixer, armored (money movements), vehicles special for heavy machinery and a long etcetera.

5 0
2 years ago
In a situation of neither input nor output fixed, the proper economic criterion is to _________________. A. Maximize the output
arsen [322]

Answer:

D. Maximize (outputs - inputs)

Explanation:

The input is the raw material, labor, the efforts that is used in making the product while the output is the product or the result arising from the input

The profit arises when output and the input varies from each other

i.e

Profit = Output - input

In the case where there is neither an input nor output fixed, so we have to maximize the profit i.e (output - input) but the condition is that they are different from each other

Hence, the correct option is D.

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