answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Joann Hayes is currently working on a project to tackle climate change. During the project, she needs to find different options
Serga [27]

Answer:

The correct answer is letter "C": Conceptual skills.

Explanation:

Conceptual skills are theoretical knowledge individuals have that allows them to synthesize abstract ideas with material objects to perform certain duties or pieces of work. In every professional field, conceptual skills are necessary moreover when new ideas are to be introduced to resolve problems.

Thus, <em>Joann Hayes must out in practice her conceptual skills while finding ways to replace the use of non-renewable energy and feasible options to do that practically.</em>

4 0
2 years ago
Management wants to build a culture where employees keep security in mind. Employees should be able to access information freely
Pavel [41]

Answer: Posters promoting good security behavior and designated mailing list.

Explanation:

One of the ways to create awareness in people's mind is by posting images, writings on walls and boards for their veiwing, when this is done over a period of time, they get conformed in their minds to adjust to what they've been seeing, another way is by designated emails, especially coming from the organization, through this emails, they can give their suggestions and complains also on what they feel or want to be done in the organization.

6 0
1 year ago
A corporate bond with a face value of $1,000 matures in 4 years and has a coupon rate of 6.25 percent. The current price of the
postnew [5]

Answer:

8.28%

Explanation:

We use the Rate formula shown in the spreadsheet for this question

The NPER specifies the time period.  

Given that,  

Present value = $932

Future value or Face value = $1,000  

PMT = 1,000 × 6.25% ÷ 2 = $31.25

NPER = 4 years × 2 = 8 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after solving this,  

the yield to maturity is 8.28%

6 0
1 year ago
Tom is responsible for ordering hardware for a custom home his company is building. The contractor installing the hardware is sc
ICE Princess25 [194]

Answer:

Free slack.

Explanation:

In project management, free slack refers to the amount of time that a certain task can be delayed and not affect the completion time of the general project. Slack time can be considered "just in case" time, because even though delays should be minimized, rarely you can eliminate them completely, and slack time gives you a little extra room for managing projects.

In this case, the free slack time is 10 days, and this delay will consume 9 of them.

3 0
2 years ago
Mogul Company ships merchandise to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attem
Bezzdna [24]

Answer:

$25,000

Explanation:

The value of inventory at the end of the end of the period will be equal to

Value of inventory = Cost of goods sent less the cost of goods already sold.

<em>Remember the arrangement  is that of agency, hence the goods are not deemed to be sold except the agent has been able to exchange them for revenue in a sales contract with his own buyers.</em>

Also the sales commission would be reported under a separated ledger which will be reported as part of the operating expenses.

Amount of inventory = $105,000 - $80,000

                                  = $25,000

7 0
1 year ago
Other questions:
  • Which federal regulatory agency would most likely bring a civil suit against a business that broke securities laws?
    13·2 answers
  • The following information was taken from the accounting records of Gorky Corporation for the year ended December 31, Year 1: Cas
    6·1 answer
  • Keenan has won the lottery for $10,000,000. He is offered a cash payment now of $7,500,000, or 10 annual payments of $1,000,000.
    12·1 answer
  • STU Corporation has $3 million in earnings on $20 million in sales and has 1 million shares outstanding. Earnings per share of c
    11·1 answer
  • A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 400 options. Th
    7·1 answer
  • During the ____ phase of team implementation, managers have withdrawn from the daily operations and are counseling teams. Group
    10·1 answer
  • Refer to the following trial balance. ​ Debit Credit Cash $19,000 ​ Accounts Receivable 40,000 ​ Merchandise Inventory 62,000 ​
    12·1 answer
  • FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beg
    14·1 answer
  • Kathleen is the new operations manager of a national stock brokerage firm. She recently attended a conference on the use of expe
    7·1 answer
  • A company with $70,000 in current assets and $50,000 in current liabilities pays a $1,000 current liability. As a result of this
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!