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Allushta [10]
4 years ago
5

Barin Retail Outlets incorrectly recorded inventory in 2016. Rather than recording ending inventory as​ $960,000, Barin's accoun

ting manager entered​ $690,000, understating ending inventory by​ $270,000. Barin's controller discovered the error in 2018. Prepare the journal entry necessary to correct the inventory​ error, ignoring any income tax effects.

Business
1 answer:
Dennis_Churaev [7]4 years ago
8 0

Answer:

Please see attachment

Explanation:

Please see attachment

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At the end of an accounting period, it is important to ensure proper inventory _____ to determine the ownership of goods in tran
Rudik [331]

Answer:

Cutoff.

Explanation:

At the end of an accounting period, it is important to ensure proper inventory cutoff to determine the ownership of goods in transit.

In Financial accounting, the term cutoff refers to the process which ensures that business transactions and activities are recorded in the correct accounting period.

An inventory cutoff involves stopping or pausing shipments or receiving of supplies of goods, in order to enable proper accounting and count checks.

8 0
3 years ago
An asset costs $174000 and is expected to have a $58000 salvage value at the end of its 10-year life. Straight-line depreciation
makvit [3.9K]

The cash payback period for the asset is 3 years.

Payback period = Cost of Investment ÷ annual cash inflow

=174,000 / 58,000

= 3 years

What is cost of investment in accounting?

Certain investments are recorded using the cost method of accounting in a company's financial statements. When an investor holds an investment that it has little or no control over—typically described as owning less than 20% of the company—they employ this strategy.

What is yearly cash flow?

Cash circulation in and out of a business over a fiscal year is referred to as "annual cash flow" in finance.

How do you calculate annual cash flow?

To calculate your yearly cash flow, subtract your total cash inflows from your total cash outflows. If the result is positive, it indicates positive cash flow; if it is negative, it indicates negative cash flow. Using the same example, take $175,000 out and subtract $139,000 to generate $36,000 in positive annual cash flow.

Learn more about cost of investment: brainly.com/question/16944523

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5 0
1 year ago
The strategy in which a company sells its exports to another country at a lower price than it sells the same product in its dome
Step2247 [10]

Answer:

Dumping

Explanation:

Dumping is protectionist strategy in which a company sells its exports to another country at a lower price than it sells the same product in its domestic market. Dumping is usually associated with a substantial volume of export of a product, it often endangers the financial viability of the product's manufacturer or producer in the importing nation.

6 0
3 years ago
Constructive criticism is offered in a way that encourages growth and learning.”
AveGali [126]

Answer: Constructive criticism encourages growth and learning by being positive and encouraging, offering solutions to problems, targeting specific areas for improvement and by being expressed only in private.

Explanation:

Here is the correct question:

Support this statement using complete sentences: “Constructive criticism is offered in a way that encourages growth and learning.”

Constructive criticism is when an individual offers valid opinions about what others have done in a way that doesn't fault the person but rather encourages the person to improve.

The person offered constructive criticism should not be criticised in public but rather praised in public while he or she is then criticised in private. Criticism should be done in a friendly manner and not an unfriendly or aggressive manner.

5 0
3 years ago
Steven ballard has a strategic initiative for east carolina to be known as
zmey [24]
Steven Ballard has a strategic initiative for East Carolina to be known as the leadership university.

His teaching and research are focused on leadership in the public sector, research and the development and the innovation process. He is also known for his amazing ethics and relentless support for ECU.


6 0
4 years ago
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