Answer:
Yes this statement was an error and its effect on financial statements of Woods will be that asset ( equipment in this case) would be overstated and obviously the net income of the company would also increase.
Explanation:
Here Woods accountant has made the error of debiting the cost of $500 on the asset account ( equipment) , which shouldn't have happened as the asset accounts have natural debit balance which means that when an amount is debited to the asset account it will increase the value of the asset.
So therefore here we can say that the asset here is overstated and if the assets are shown overstated it is natural that the income reflected would also be overstated.
The answer in the space provided is seventy five to eighty five percent because this is only the likely percentage that the organization strive because this extends to their capabilities and that this occurs at
the first level of support in less than an hour when they undergone through
this process.
Answer:
Granite is a light-shaded molten stone with grains adequately huge to be obvious with the independent eye. It structures from the moderate crystallization of magma beneath Earth's surface. Stone is made basically out of quartz and feldspar with minor measures of mica, amphiboles, and different minerals. Granite slabs are gotten from unique locales that are known as quarries. Utilizing incredible machines, a mining organization mines and shoots crude rock out of the quarry. Processing Machines Cut the Slabs. After rock has first been mined out of the earth, it will be in an exceptionally harsh structure.
Explanation:
The three methods used to classify costs into their fixed and variable components include:
- scatter diagrams
- high-low method
- regression analysis
<h3>What is a
costs classification?</h3>
This refers to the process of separation of a group of expenses into different categories which are used to bring an management's attention certain costs that are considered more crucial than others, or to engage in financial modeling.
Often time, the purpose of cost classification is to allows the manager control processes and cut costs where needed or send more resources to an area of the process that is lacking.
Furthermore, the cost classification also allows the manage to review reports and advise accounting of needed adjustments in cost classification.
Read more about costs classification
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A. $625.71
619+619×0.13/12
