Answer:
The inventory would be increased by $55,283 and the profit has been decreased by the same amount.
Explanation:
The reason is that the closing inventory has been increased by the difference of the correct and incorrect amount which is:
Closing inventory difference = $225,513 - $170,230 = $55,283
This will increase the closing inventory in the balance sheet and the increase in the closing inventory will decrease the cost of goods sold. The lower the cost of goods sold the greater is the profit.
Answer:
The answer is option E) The type of analysis that Jamie is doing is best described as scenario analysis.
Explanation:
scenario analysis assesses the effect of changing all the input variables at the same time.
Scenarios being considered can relate to a single variable, such as the relative success or failure of a new product launch, or a combination of factors, such as the results of the product launch combined with possible changes in the activities of competitor businesses. The goal is to analyze the results of the more extreme outcomes to determine investment strategy.
In this case, scenario analysis is used in analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales price, and the cost estimates.
Answer:
Explanation:
Available for sale securities are required to be reported at fair value.
Hence the difference between amortized cost and fair value is required to be transferred to other comprehensive income.
The amount of credit loss that Marin should report on this available for sale security at 31-12-2020
= $52,000 - $44,000
= $8,000
Answer:
19
Explanation:
The euro is the sole currency of 19 EU member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
Answer:
Procedural due process.
Explanation:
Procedural due process is a doctrine that requires government officials to follow fair procedures before depriving a person of life, liberty, or property. Procedural due process is required by the Due Process Clauses of the Fifth and Fourteenth Amendments of the United States. When the government seeks to deprive a person of one of those interests, procedural due process requires at least for the government to afford the person notice, an opportunity to be heard and a decision made by a neutral decision maker. The rights that apply equally to civil due process and criminal due process are:
- An unbiased trial.
- Notice of the proposed action and the grounds asserted for it.
- The opportunity to present reasons for the proposed action not to be taken.
- The right to present evidence, including the right to call witnesses.
- The right to know the opposing evidence.
- The right to cross-examine adverse witnesses.
- A decision based only on evidence presented.
- Opportunity to be represented by counsel.
- A requirement that the tribunal prepare a record of the evidence presented.
- A requirement that the tribunal prepare written findings of fact and the reasons for its decision.
Not all the above rights are guaranteed in every instance. At minimum, a person is due only notice, an opportunity to be heard and a decision by a neutral decision maker. Courts use tests to decide if a person should be guaranteed any of the procedural aforementioned rights.
