Answer:
The more electricity, communications, and transportation used in a nation's economy, it will give them a more developed country and a greater potential for increased industrialization.
Explanation:
Answer:
on the work ground
Explanation:
They have a large enough flat piece of land that they could plant on
The correct answer is letter a. Activities related to selecting acceptable risks so that general insurer objectives are met. Underwriting is best described as "<span>Activities related to selecting acceptable risks so that general insurer objectives are met."</span>
Here are the choices
a. Activities related to selecting acceptable risks so that general insurer objectives are met.
b. Actuarial science
c. Production-related activities performed primarily by agents in the field
d. Process of developing pricing structures for insurance, often performed by an actuary
e. A function most often performed by adjusters
Answer:
a. $225, 000
b. $900, 000
c. $140, 000
Explanation:
Ralph Mini-Mart Store in Alpine:
(a) Beginning inventory: this is the value of inventory on hand at the beginning of the financial year. This is the value is the same as the value of ending inventory at the end of the previous financial year. This value includes the value of the inventory and any costs that were incurred to bring the inventory to the organization’s store house.
For Ralph Mini- Mart, beginning inventory = $225, 000 (refer to item 5)
(b) Transfers- In: this is the inventory that was purchased during the financial year. This value will include the cost of the inventory and any other costs that were incurred to bring the inventory to the store house of Ralph’s Mini – Mart. In this instance, the additional cost is the transportation cost of $30, 000 that was incurred to transport the inventory from the supplier to the warehouse.
For Ralph’s Mini – Mart, the Transfers – In = $870, 000 + $30, 000 = $900, 000 (refer to item 3 and 4)
(c) Ending balance: the ending balance is the value of inventory at the end of the financial year. This is the value of inventory that Ralph’s remains with after purchasing inventory from suppliers and selling inventory to customers. This value will take into account any inventory write- downs and obsolescence. In this instance, there has been no inventory write- downs and no inventory obsolescence or thefts.
For Ralph’s Mini – Mart, the value of ending inventory = $140, 000 (refer to item 5)
Answer:
Explanation:
Required 1
determine the effect of the error on retained earnings at january1,2016;
in 2016, SE discovered that the expenses for advertising is $42000, it is an error caused by net purchase of inventory in the year 2015. the cost of goods sold for advertising expenses is overrated by $42000.
Therefore, the understatement advertising expense at ending inventory is $30000 held on consignment caused in 2015 is detected that the goods sold to be overstated.
check the attachment for analysis of 2015 ending inventory error effects.
REQUIRED 2 ( CHECK THE ATTACHMENT BELOW)
REQUIRED 3;
Determine the steps taken in connection with the correction of the error;
In 2015 the result for the financial statement was incorrect with two errors by restated. The correct inventory amount cost of goods sold, advertising expenses , net income and retained earnings are reported in comparative purpose to their current annual report.
a previous period adjustment for retained earnings is reported with disclosure note for the nature of error.
finally, the correction is made at the year earning for net income and extra ordinary item purchased. Therefore , a calculated share for each retained earnings is get reported.
