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dedylja [7]
4 years ago
8

Sheridan Inc. reported total assets of $6408000 and net income of $503000 for the current year. Sheridan determined that invento

ry was understated by $137000 at the beginning of the year and $58700 at the end of the year. Ignoring income taxes, what is the corrected amount for total assets and net income for the year
Business
1 answer:
adoni [48]4 years ago
8 0

Solution:

Given,

Total assets = $6408000

Net income = $503000

Now , to calculate corrected amount for total assets and net income for the year :

503000 + 137000 = 640,000

The corrected amount for total assets and net income for the year : 640,000

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A. Constraint

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George, a chef and owner of a popular restaurant, is always visiting his competition to observe how they are doing things in the
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B is the correct answer.

An unfavourable fixed overhead volume variance can be due to all of the following except an increase in utility costs.

<h3>What is utility costs?</h3>

Utilities costs are the price associated with using services including electricity, water, waste removal, heating, and sewage. Throughout the reporting period, expenses are incurred, calculated, and accrued for, or payments are made. The term "Utility Costs" refers to all fees, surcharges, and other expenses related to providing any utilities that are necessary for the Premises, the Premises, or the Improvements, including, but not limited to, heating, ventilation, and air conditioning costs, costs associated with providing gas, electricity, and other fuels or power sources to the Premises, and costs associated with providing water and sewage services to the Premises.

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