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EleoNora [17]
1 year ago
14

after conducting your end of period physical inventory count, you realize that for several customer orders, the transfer of lega

l title to the goods in transit was not properly recognized. this situation is an example of an inventory error that will
Business
1 answer:
bonufazy [111]1 year ago
8 0

This situation is an example of an inventory error that will Errors affect both the income statement and balance sheet.

<h3>What is inventory error?</h3>

Any of the following could lead to an inventory error: Leaving out some items when physically counting inventory. During a physical inventory, some objects should be double counted. clerical mistakes when multiplying or adding inventory information.

Inventory mistakes can result in an inaccurate ending inventory balance, which has an impact on the cost of goods sold and profitability.

To learn more about inventory error

brainly.com/question/28507743

#SPJ1

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Assume an organization's cost of capital is 10% and Division X has operating income of $3 million and uses $20 million of capita
Irina-Kira [14]

Answer:

c. $1,000,000

Explanation:

The computation of the economic value added is shown below:

Economic value added = Operating income - total invested capital × WACC

                                      = $3,000,000 - $20,000,000 × 10%

                                      = $3,000,000 - $2,000,000

                                      = $1,000,000

We simply deduct the total invested capital by multiplying the cost of capital from the operating income

8 0
3 years ago
At December 31, the records of Nortech Corporation provided the following selected and incomplete data:Common stock (par $1; no
solmaris [256]

Answer:

The following balances have been worked out from the information given in question;

Explanation:

No. of Common stocks issued     $200,000/22         9,091

Paid in capital-Common Stocks               9,091*(22-1)  $90,909      

No. of Treasury Stock                                                         3,000

Treasury stock            3,000*20                                         $60,000      

EPS   =$147,750/(9,091 -3,000)                                          $24

Retained Earnings ($155,000+$147,750-$49,250)           $253,500

                                                 

4 0
3 years ago
To adjust for rent used up during the year that was recorded to the prepaid rent account when paid for, Multiple choice question
EleoNora [17]

To adjust for rent used up during the year that was recorded to the prepaid rent account when paid for;

  • Rent expense is debited, prepaid rent is credited

<h3>Prepaid rent account</h3>

A prepaid rent account simply a current asset account that's responsible for reporting the amount of future rent expense that was paid in advance of the rental period.

On this note, the amount reported on the balance sheet is the amount that has not yet been used or expired as of the balance sheet date.

Read more on prepaid rent account;

brainly.com/question/1202504

6 0
2 years ago
Bonita Corporation had net income of $1550000 and paid dividends to common stockholders of $400000 in 2017. The weighted average
artcher [175]

Answer:

16 times

Explanation:

Calculation to determine what Bonita Corporation's price-earnings ratio is

Price-earnings ratio= ($1550000 -$400000)/387500

Price-earnings ratio=$1,150,000/387500

Price-earnings ratio=2.97

Price-earnings ratio= 48/2.97

Price-earnings ratio=16 times

Therefore Bonita Corporation's price-earnings ratio is 16 times

3 0
3 years ago
Suppose that the demand for my new book, Spatulas From Around the World, is such that the demand curve lies everywhere below the
dsp73

Answer:

C. Shut down the presses printing my book

Explanation:

Since the average variable cost of producing the book is above the demand curve, the best course of action is to shut down the printing (production) of more books. The author would lose less money by shutting down operations rather than continuing production at a variable cost higher than the demand he's receiving for the books.

In economics, when profit is less than the average variable cost, firms are advised to stop production in the short run and incur economic loss on fixed inputs. This is because with continued operations, total revenue would not only be lower than total cost, but rather, would also be less than total variable cost.

8 0
3 years ago
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