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erik [133]
2 years ago
14

Penny Company made an inventory count on December 31, 2020. During the count, one of the clerks made the error of counting an in

ventory item twice. For the balance sheet at December 31, 2020, the effects of this error are Assets Liabilities Stockholders' Equity1) Overstated Understated Overstated2) Understated No effect Understated3) Overstated No effect Overstated4) Overstated Overstated Understated Option 1)Option 2)Option 3)Option 4)
Business
2 answers:
SCORPION-xisa [38]2 years ago
7 0

Answer:

The correct answer is B.

Explanation:

MatroZZZ [7]2 years ago
3 0
Idk but I’ve seem to have done
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Skyline Florists uses an activity-based costing system to compute the cost of making floral bouquets and delivering the bouquets
alekssr [168]

Answer:

$7.15

Explanation:

Calculation for Other The cost of wages and salaries and other overhead that would be charged to each bouquet made is:

Wages and salaries charged to each bouquet produced = (60%*$180,000)+(50%*$70,000)/20,000 bouquet

Wages and salaries charged to each bouquet produced = $108,000+$35,000/20,000 bouquet

Wages and salaries charged to each bouquet produced = $143,000/20,000 bouquet

Wages and salaries charged to each bouquet produced = $7.15

Therefore The cost of wages and salaries and other overhead that would be charged to each bouquet made is:$7.15

7 0
3 years ago
In determining basic earnings per share, dividends on nonconvertible cumulative preferred stock should be:a. deducted from net i
DiKsa [7]

Answer:

b. deducted from net income whether declared or not

Explanation:

The formula to compute the basic earning per share is shown below:

Basic earning per share = (Net income - preferred stock dividend) ÷ (weighted average of outstanding shares)

In the case of the non- convertible cumulative preferred stock, the dividend should be paid whether the business earns profit or loss. If the business does not earn any profit during a particular year, in that period the dividend amount is carried forward to next year.

So, the dividend arrears are to be paid to the cumulative preferred stock.

4 0
3 years ago
_____ can be used as collateral for up to 95 percent of the policy's cash value.
Novay_Z [31]
The answer is “insurance policies”
5 0
3 years ago
Read 2 more answers
Explain the difference between mandatory and discretionary spending? provide an example of each kind of spending"
nataly862011 [7]
Mandatory spending is something that either has, or is strongly urged to be done. Discretionary spending is based on the spenders discretion, if the spender thinks it needs to be spent, then they would do so. Example of mandatory spending would be paying back a loan. Example of discretionary spending would be a good business investment.  Hope this helps!
5 0
3 years ago
Which of the following statements is FALSE? A venture capital firm is a limited partnership that specializes in raising money to
pantera1 [17]

Answer:

Venture capitalists typically control all of the seats on a start-up's board of directors, and often represents the single largest voting block on the board.

Explanation:

A venture capital is a type of capital arrangement by venture capital , provided to start up companies with the prospect of potential growth. Companies that provides financies for start up have a stake in the business they are financing. It is usually a high risk business.

Examples of venture capitalist are

Investment banks, pension funds, insurance companies etc.

Before finances can be made by venture capitalist, the initial capital required to start required to start the business is usually provided by the entrepreneur and his family.

5 0
3 years ago
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