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Korvikt [17]
4 years ago
11

Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income

. Explain the consequences of this error on the current period's income statement.A. Cost of goods sold will be too high by $5,000.
B. Cost of goods sold will be too low by $5,000.
C. The correct net income amount should have been $105,000.
Business
1 answer:
soldi70 [24.7K]4 years ago
4 0

Answer:

B. Cost of goods sold will be too low by $5,000.

Explanation:

Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.

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In the video we saw of Werner Vogels (chief technology officer at Amazon) discussing cloud computing, he emphasized that it prov
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Answer:

Elasticity

Explanation:

Elasticity -

Elasticity is one of the characteristics of the cloud computing .

Elasticity makes the cloud computing different from the older grid computing .

It refers to the factor by which the system is capable to adapt to the changes in the workload by provisioning and de - provisioning the resources automatically , is referred to as elasticity .

Faster the provision and de - provision may lead to storage or customers applications.

Hence , from the given scenario of the question ,

The correct answer is elasticity .

7 0
4 years ago
_______ is a system for managing demand-dependent inventories that minimizes the inventory holdings of the firm at any given tim
vlabodo [156]

Answer: <u>"A. Just-in-time inventory"</u> is a system for managing demand-dependent inventories that minimizes the inventory holdings of the firm at any given time.

Explanation: The Just in time system is an inventory maintenance policy at the lowest possible level where suppliers deliver just what is necessary at the time necessary to complete the production process. In this way, we seek to reduce the costs of maintaining higher inventories, purchasing costs, financing of purchases and storage.

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4 years ago
A special surveillance and rescue team is being deployed to counter the menace of pirates in the Indian ocean. Nick, Sid, Leah a
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Answer:

The correct answer is (e)

Explanation:

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7 0
3 years ago
A bond has a Duration (not Modified) of 4.2 years and is priced at 99.50. Its yield is 3%. How much will its price change if the
saw5 [17]

Answer:

1.22%

Explanation:

The modified duration of the bond gives an indication of change in price due to a 1% change in the yield to maturity,hence, the bond modified duration is computed using the formula below:

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4 0
3 years ago
(-2a+5)(3a+4)<br><img src="https://tex.z-dn.net/?f=%28%20-%202a%20%2B%205%29%283a%20%2B%204%29" id="TexFormula1" title="( - 2a +
vichka [17]
Simplifying
(2a + 5)(3a + -4) = 0

Reorder the terms:
(5 + 2a)(3a + -4) = 0

Reorder the terms:
(5 + 2a)(-4 + 3a) = 0

Multiply (5 + 2a) * (-4 + 3a)
(5(-4 + 3a) + 2a * (-4 + 3a)) = 0
((-4 * 5 + 3a * 5) + 2a * (-4 + 3a)) = 0
((-20 + 15a) + 2a * (-4 + 3a)) = 0
(-20 + 15a + (-4 * 2a + 3a * 2a)) = 0
(-20 + 15a + (-8a + 6a2)) = 0

Combine like terms: 15a + -8a = 7a
(-20 + 7a + 6a2) = 0

Solving
-20 + 7a + 6a2 = 0

Solving for variable 'a'.

Factor a trinomial.
(-5 + -2a)(4 + -3a) = 0

Subproblem 1
Set the factor '(-5 + -2a)' equal to zero and attempt to solve:

Simplifying
-5 + -2a = 0

Solving
-5 + -2a = 0

Move all terms containing a to the left, all other terms to the right.

Add '5' to each side of the equation.
-5 + 5 + -2a = 0 + 5

Combine like terms: -5 + 5 = 0
0 + -2a = 0 + 5
-2a = 0 + 5

Combine like terms: 0 + 5 = 5
-2a = 5

Divide each side by '-2'.
a = -2.5

Simplifying
a = -2.5
Subproblem 2
Set the factor '(4 + -3a)' equal to zero and attempt to solve:

Simplifying
4 + -3a = 0

Solving
4 + -3a = 0

Move all terms containing a to the left, all other terms to the right.

Add '-4' to each side of the equation.
4 + -4 + -3a = 0 + -4

Combine like terms: 4 + -4 = 0
0 + -3a = 0 + -4
-3a = 0 + -4

Combine like terms: 0 + -4 = -4
-3a = -4

Divide each side by '-3'.
a = 1.333333333

Simplifying
a = 1.333333333
Solution
a = {-2.5, 1.333333333}
6 0
4 years ago
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