1answer.
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
ddd [48]
3 years ago
12

Wolverine Company financial statements included the effects of these errors: Reported Net Income for Year 1 was $20,000. Reporte

d Net Income for Year 2 was $18,000. Indicate the error in 12/31/2 Retained Earnings:
Business
1 answer:
Natali [406]3 years ago
5 0

Answer:

Net income year 2 = $21,300

Explanation:

I looked for the missing information and found this:

Year            Depreciation overstated         Prepaid expense omitted

1                              $2,500                                $2,000

2                             $4,000                                $2,700

If your question doesn't include the same values, just adjust the answer.

Year 2's net income = net income (year 2) + overstated depreciation (year 2) + omitted prepaid expenses (year 1) - omitted prepaid expenses (year 2) = $18,000 + $4,000 + $2,000 - $2,700 = $21,300

You might be interested in
Selma deposited a paycheck for $378.42. she’ll use the check register to record her transaction. What will be her new balance?
stepladder [879]

Selma’s new balance will be $378.42. A paycheck also known as a pay check or pay cheque, is a paper document issued by an employer to pay an employee for services rendered. However, the physical paycheck is increasingly being replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll card.

Employees may still receive a pay slip detailing the final payment amount calculations. A salary statement, also known as a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes or is attached to the paycheck.

Each country has laws governing what information must be included on a payslip .

To learn more about paycheck, click here

brainly.com/question/8657860

#SPJ4

5 0
2 years ago
BREMCO recently paid a $2.80 annual dividend on its common stock. This dividend increases at an average rate of 3.8 percent per
Paraphin [41]

Answer:

14.60%

Explanation:

The computation of market rate of return is shown below:-

Market rate of return = (Dividend × (1 + Growth rate)) ÷ Current price of stock + Growth rate

= ($2.8 × (1 + 3.8%)) ÷ 26.91 + 0.038

= ($2.8 × 1.038) ÷ 26.91 + 0.038

= $2.9064 ÷ 26.91 + 0.038

= 0.108 + 0.038  

= 14.60%

So, for computing the market rate of return we simply applied the above formula.

3 0
3 years ago
Was it smart of Cedric to avoid writing about his embarrassing lunchtime incident and wacky grandma?
LekaFEV [45]
Yes, because harassing grandma is unnecessary and rude.
5 0
3 years ago
a pricing tool that focuses on the changes in total revenue and total cost from selling one more unit to find the most profitabl
tigry1 [53]

A pricing tool that focuses on the changes in total revenue and total cost from selling one more unit to find the most profitable price and quantity is called Marginal analysis.

Marginal analysis is an examination of the added benefits of an activity against the incremental costs resulting from the same activity. Businesses use marginal analysis as a decision-making tool to help them maximize their potential revenue. For example, if a company has a budget to make room for another employee and plans to hire another person to work in the factory, marginal analysis indicates that hiring that person provides a net marginal benefit.

To learn more about Marginal analysis, click here.

brainly.com/question/14513809

#SPJ4

5 0
1 year ago
The standard deviation of the market-index portfolio is 25%. Stock A has a beta of 1.80 and a residual standard deviation of 35%
kap26 [50]

Answer:

0.2925

Explanation:

Total variance = Systematic variance + Residual variance

= (β^2)Var(rM) + Var(e)

Where beta β= 1.80 and

residual standard deviation σ(e) = 0.35,

variance = (1.80^2)×0.25^2 + 0.3^2= .

=3.24 × 0.0625 + 0.09

= 0.2925

7 0
3 years ago
Other questions:
  • Anish, a single indian biology professor, went to the local national bank to apply for a home loan. the banker told anish that s
    13·1 answer
  • The Shapely Company uses the high-low method to determine its cost equation. The following information was gathered for the past
    13·1 answer
  • Lucas Laboratories' last dividend was $1.50. Its current equilibrium stock price is $15.75, and its expected growth rate is a co
    5·1 answer
  • I lost my debit card on my house but it’s the temporary and my real card is late so i need to call my bank but it ask for my car
    12·1 answer
  • Marigold Corp. reported sales of $2200000 last year (80000 units at $20 each), when the break-even point was 44000 units. Marigo
    12·1 answer
  • Presented below is information related to Splish Company at December 31, 2020, the end of its first year of operations.
    6·1 answer
  • Jared has earned 23% of the $52 he needs to buy a new jacket. Find 23% of $52. Which expression can you use to find 23% of 52? .
    11·2 answers
  • Question 2<br> A style of writing in which the main point is stated early in the message.
    5·1 answer
  • What can you create best in PowerPoint Online?
    11·1 answer
  • If the united states government raises the income taxes on the wealthiest americans, while increasing welfare payments to the po
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!