Poppy co. uses a periodic inventory system. Beginning inventory on January one was understated by $30,000, and its ending inventory on December thirty-one was understated by $17,000. A purchase of merchandise costing $20,000 was incorrectly recorded as a $2,000 purchase. None of these errors were discovered until the next year. As a result, Prunedale's cost of goods sold for this year was: Understated by $31,000.
the two types of merchant wholesalers are: full-service wholesalers, which provide a full set of services, and limited service wholesalers, which offer fewer services to their suppliers and customers.
Answer: (1) 120,675
(2) 60,450
Explanation:
(1) Nominal GDP, year 2 ($) = Sum of (Year 2 price × Year 2 quantity)
= 150 × 4.50 + 1,200 × 100
= 675 + 120,000
= 120,675
(2) Real GDP, year 2 ($) = Sum of (Year 1 price x Year 2 quantity)
= 3 × 150 + 50 × 1200
= 450 + 60,000
= 60,450
Answer:
violation/accident.
Explanation:
Its violation because its a violation to the property, but you also can use accident because it mean a situation not done on purpose or something unexpected which will cause damage or injury.
Given:
<span>stockton company adjusted trial balance december 31
cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
accumulated depreciation 1,100
accounts payable 1,900
notes payable 4,300
common stock 1,000
retained earnings 12,940
dividends 790
fees earned 9,250
wages expense 2,500
rent expense 1,960
utilities expense 775
depreciation expense 250
miscellaneous expense 185
To determine the total assets, we only have to consider the following:
</span>cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
<span>accumulated depreciation <u> (1,100) </u>
</span>Total assets: 22,930 CHOICE D.
NET INCOME:
fees earned 9,250
<span>wages expense (2,500) </span>
<span>rent expense (1,960) </span>
<span>utilities expense (775) </span>
<span>depreciation expense (250) </span>
<span>miscellaneous expense <u> (185)</u>
</span><span>Net Income 3,580
LIABILITIES AND S.H.E
</span>accounts payable 1,900
<span>notes payable 4,300 </span>
<span>common stock 1,000 </span>
<span>retained earnings 12,940 </span>
<span>dividends (790)
</span>Net Income <u> 3,580</u>
TOTAL LIABILITIES & SHE 22,930
