It’s A- interest hope that helped :D
Answer:
Dr retained earnings($21,600+$15,800) $37,400.00
Cr accumulated depreciation $21,600
Cr inventory $15,800
Explanation:
The errors that require adjustment are the overstatement and understatement of depreciation expense as well as the December 2021 overstatement of inventory.
The understatement of inventory in 2020 would have self-corrected itself in 2021 since closing inventory in 2020 deducted from costs of goods available for sale would be introduced as opening inventory in 2021.
net effect of depreciation=understatement -overstatement=$37,500-$15,900=$21,600.00
hence retained earnings would reduce by $21,600.00
for the overstatement of inventory,retained earnings would reduce by $15,800
Answer:
$32,000
Explanation:
The computation of the taxable gain is shown below;
Taxable gain on sale = Amount Realized - Adjusted Basis
where,
Amount Realized = Cash Received + Note received + Mortgage assumed by Purchaser
= $100,000 +$50,000 + $25,000
= $175,000
And, the adjusted basis is
= Original cost - Accumulated Depreciation
= $170,000 - $27,000
= $143,000
So, the taxable gain on sale is
= $175,000 - $143,000
= $32,000
The gain which is arise from purchasing the asset to the sale of the asset i.e difference in these amounts attract the taxable gain
Answer:
The options for this question are the following:
A. Caveat emptor
B. Ex post facto laws
C. Stare decisis
D. Contra proferentem
The correct answer is C. Stare decisis
.
Explanation:
Stare decisis is a Latin phrase, which is interpretively translated as "staying with the things decided", used in law to refer to the doctrine according to which the sentences issued by a court create judicial precedent and link as jurisprudence to those that, on the same object, will be dictated in the future.
This shorter statement comes from summarizing a more extensive one that says: Stare decisis et non quieta movere.
This doctrine is typical of Anglo-Saxon law, and it is not as strong in continental law systems, where jurisprudence has a much smaller obligation and the judge's ability to interpret the law according to his criteria is much broader.
Answer:
Explanation:b. hvpyigigggiggggiygiggiggigigigigigigiigiygigigigigigi gooooo