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
Trava [24]
2 years ago
13

Hudson, Inc. is a calendar-year corporation. Its financial statements for the years 2021 and 2020 contained errors as follows: 2

021 2020 Ending inventory $9,000 overstated $24,000 overstated Depreciation expense $6,000 understated $18,000 overstated 94. Assume that no correcting entries were made at December 31, 2020, or December 31, 2021 and that no additional errors occurred in 2022. Ignoring income taxes, by how much will working capital at December 31, 2022 be overstated or understated
Business
1 answer:
lubasha [3.4K]2 years ago
6 0

Answer:

$3,000 understated

Explanation:

The computation of the working capital in case of no correcting entries made is shown below:

= Depreciation Expense for 2020 - depreciation expense for year 2021 - ending inventory for 2021

= $18,000 - $6,000 - $9,000

= $3,000 understated

While there is no additional errors occurred and no correcting entries passed so in this the $3,000 is understated by above calculation

You might be interested in
Mr. Josh Kenney, a U.S. citizen and resident of Vermont, owns 100 percent of the stock of JK Services, which is incorporated und
Alekssandra [29.7K]

Answer:

a. Taxpayers in the scenario:

There are three (3) taxpayers and these are:

  • Mr. Josh Kenny
  • JK Services
  • JK Realty

b. Governments with jurisdiction:

  • Mr. Josh Kenny falls under the State of Vermont where he is a resident.
  • JK Services falls under the State of Vermont where it is incorporated and operates.
  • JK Realty falls under the City of Boston where it is operates.

4 0
2 years ago
The equipment account had a $36,000 balance at the beginning of the year, and a $30,000 balance at the end of the year. The accu
MrMuchimi

Answer:1000

Explanation:

Equipment decreases $6000 ($10000-$4000). Accumulated depreciation decreases $9000 ($22000+4000-$17000). $10000 cost -$9000 accumulated depreciation = $1000 cash received from sale.

6 0
2 years ago
You created a financial model for a pitchbook being presented tomorrow to a potential new client. While reviewing the final vers
sashaice [31]

Explanation:

A pitchbook is confidential document. It is basically a sales document, used by the sales force, which contains main features or attributes of the firm, the potential of the firm and the future aspects of the firm in detail.

So keeping the given question in mind, I would write to my supervisor as follows:

Subject: Assistance Required

Body:

Dear Sir,

By reviewing the whole document finally, which is to be presented to the client tomorrow, I found some mistakes in the results. I came to know that the results are incorrect and are surely needed to be corrected before the presentation.

I recommend you to delay the meeting for 3 hours by the scheduled time, as i need to check and correct the whole figures again and this would take time.

I am looking forwards for your advice.

Best Regards

6 0
2 years ago
Amara has taken out a fixed rate mortgage for $125,000 at 4.04% for 20 years, or 240 months. Her payments are $730. What is the
Assoli18 [71]

Answer:

`175,200$

Explanation:

730x240= Answer

3 0
2 years ago
All of the following represent cash outflows to the firm excepta. Taxes.b. Interest payments.c. Dividends.d. Purchase of plant a
Sergio039 [100]

All of the following represent cash outflows except E; Depreciation.

Further Explanation:

Cash outflows to a firm/business is how much cash for the business is available after taxes and capital are paid for. Interest payments, dividends and the purchase of equipment for the plant is considered into the cash flows.

Depreciation will not be part of the cash flow. This is considered to be a non-cash expense to the business/firm. This is an ongoing charge to the fixed assets of the business. This actually reduces the cash flow by reducing the monies paid for income taxes.

Learn more about depreciation at  brainly.com/question/9862781

#LearnwithBrainly

7 0
2 years ago
Other questions:
  • One of your duties as the capacity manager for XYZ Company is to determine the best operating level. One way to help determine c
    15·1 answer
  • Ratchet Manufacturing anticipates total sales for August, September, and October of $200,000, $210,000, and $220,500 respectivel
    6·1 answer
  • Suppose a country's productivity last year was 84. If this country's productivity growth rate of 5 percent is to be maintained,
    8·1 answer
  • Sophia mentions that $250 is not even 1% of her salary and she does not seem motivated by the amount of the bonus. Based on expe
    11·1 answer
  • What type of international risk exposure measures the change in present value of a firm resulting from changes in future operati
    11·1 answer
  • Katarina and Richard are a busy young couple with a​ son, Caleb, who is 6 and twin​ daughters, Stacy and​ Casey, who are activel
    8·1 answer
  • Bond Company uses a plantwide overhead rate with direct labor hours as the allocation base. Use the following information to sol
    15·1 answer
  • Angie, CEO of a local alternative energy company that provides power for residential and commercial customers in your community,
    13·2 answers
  • Allen Construction purchased a crane 6 years ago for $130,000. They need a crane of this capacity for the next 5 years. Normal o
    5·1 answer
  • Suzette is receiving $10,000 today, $15,000 one year from today, and $25,000 four years from today. She will immediately invest
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!