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erik [133]
3 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]3 years ago
7 0

Answer:

The correct answer is B.

Explanation:

MatroZZZ [7]3 years ago
3 0
Idk but I’ve seem to have done
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Saleh, an accountant, is the sole shareholder of Turquoise Corporation, a C corporation. Turquoise is a personal service corpora
VashaNatasha [74]

Answer: $82,500

Explanation:

Saleh's salary for fiscal year ending September 30 = $330,000

Salary that should be paid between October 1 - December 31, if the corporation is to continue to use it's fiscal year without negative tax effect.

To avoid negative tax effect, the Saleh's salary should be atleast equal to the amount being given for the fiscal year which ended in September 30.

October 1 - December 31 = 3 months

Saleh's monthly salary = total slary during fiscal year ÷ 12

$330,000 ÷ 12 = $27,500

October 1 - December 31 = $27500 * 3 = $82,500

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3 years ago
The percentage of network programming on broadcast TV that involves sports is _______________________.
Dmitry_Shevchenko [17]

Answer: Fifty percent.

Explanation:

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3 years ago
As people have become more healthminusconscious and decided to eat food that is better for them_________
vitfil [10]
As people have become more health-conscious and decided to eat food that is better for them the demand curve for oranges and apples has shifted to the right.
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3 years ago
Santiago Incorporated has a constructing company in which he does major constructing jobs and also leases his heavy-duty equipme
Dafna11 [192]

Answer:

"Direct Method" is the right answer.

Explanation:

  • The direct approach provides a clearer overview of how a company receives currency. And therefore it is regarded as equivalent to the alternative manner.
  • Compared to the price of something like the money market account throughout the particular circumstance, the above direct method of registering cash balance somewhat from operations would be advised.
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3 years ago
Marcy and Liz developed a new jewelry design. They were fortunate to get the attention of a large online retailer who was willin
snow_tiger [21]

Answer: Exclusive distribution

Explanation:

Exclusive distribution is defined as the agreement in which a parties involved are manufacturer and distributor.It states that the particular distributor cannot sell their service or item to any other party .It binds the agreement that product can be sold to the exclusive distributor.

According to the situation mentioned in the question, designers are asked for exclusive distribution by the retailer.Retailer does not wants that design of jewelry to be sold through any other source or retailer for effective sale.Thus agreement upon this matter is proposed by the retailer.

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3 years ago
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