1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fofino [41]
3 years ago
14

2019: Ending inventory was overstated by $30,000 while depreciation expense was overstated by $24,000. 2020: Ending inventory wa

s understated by $5,000 while depreciation expense was understated by $4,000. By how much should retained earnings be adjusted on January 1, 2021?
Business
1 answer:
KIM [24]3 years ago
3 0

Answer:

$25,000

Explanation:

The computation of the adjusted balance of retained earning is shown below:

Since the depreciation expense is overstated on 2019 which decreased the earnings so it would be added

Since the  depreciation expense is understated on 2020 which increased the earnings so it would be deducted

And, the ending inventory for 2020 is understated which decreased the earning so it would be added

Therefore, the adjusted balance is

= $24,000 - $4,000 + $5,000

= $25,000

You might be interested in
Company Baldwin invested $50,460,000 in plant and equipment last year. The plant investment was funded with bonds at a face valu
Zielflug [23.3K]

Answer:

a. true

b. false

c. true

d. false

e. true

f. false

g. true

h. true

Explanation:

a. we solve for depreciation

$50,460,000/15

= $3364000

this is true

b. retained earnings have no roles to play in this option. false

c. The long term debt has been sen to chaange by

50460000-16741282

= $33718718

true

d. This is false retained earnings have no role to play here.

e. This is true because this is the amount that was used to purchase the plant

f. false since retained earning has nothing to do here.

g. this is true also. the face value of the bond is $33,718,718.

h. this is true. since palnt and equipment is $5046000

8 0
3 years ago
True or false. leadership in a team is a key component to team success.
vitfil [10]
The answer to this is true
4 0
3 years ago
Jason Allen is planning to invest $26,000 today in a mutual fund that will provide a return of 11 percent each year. What will b
Troyanec [42]

Answer:

Value of investment after 10 years will be $738244

Explanation:

We have given that Jason Allen is planning to invest $26000 today in mutual fund

So present value P = $26000

Rate of interest r = 11 %

Time period n = 10 years

We have to find the amount after 10 years

We know that amount is given by

A=P(1+\frac{r}{100})^n, here A is future value , P is present value r is rate of interest and n is time period

So amount after 10 year will be A=26000\times (1+\frac{11}{100})^{10}

=26000\times 1.11^{10}

=260000\times 2.8394=738244

So value of investment after 10 years will be $738244

8 0
3 years ago
Starting from a​ full-employment equilibrium, an increase in aggregate demand​ ______, and creates​ ______ gap.
zavuch27 [327]

Starting from a​ full-employment equilibrium, an increase in aggregate demand​ increases, and creates​ an inflationary gap.

In an economy, the total quantity of demand for all finished goods and services is measured as aggregate demand. A measure of aggregate demand is the total amount of money spent on certain goods and services at a particular price level and period.

The entire demand for products and services at any given price level throughout a specific period is referred to as aggregate demand in macroeconomics. Since the two indicators are derived in the same way, aggregate demand over the long run equals gross domestic product (GDP). A country's gross domestic product (GDP) reflects all the products and services that are produced there, whereas aggregate demand refers to consumer demand for the same goods.

Learn more about Aggregate demand, here

brainly.com/question/29022331

#SPJ4

5 0
1 year ago
The Total Debt to Total Capital ratio is an effective type of debt management ratio because it gives an idea of:______
Vaselesa [24]

Answer:

c. how the firm has financed its assets as well as the firm’s ability to repay its long-term debt.

Explanation:

The Total Debt to Total Capital ratio is also known as the Debt to Equity Ratio. This ratio shows how much foreign money is used by the Company. Also important, it reveal the firms ability to repay its long term debt.

7 0
3 years ago
Other questions:
  • New cola alternatives (Mecca Cola, Muslim Up, Arab Cola, and ColaTurka) sprang up after the military conflicts in the Middle Eas
    15·1 answer
  • What should a consumer consider when shopping for a credit card? Check all that apply.
    6·2 answers
  • It's possible for a debt card transaction to bounce true or false
    5·1 answer
  • Which of the following foods does not support bacteria growth?
    13·1 answer
  • This year, the annual tuition at a public four-year university is $5,290. Next year when Jarrod attends his first year, the tuit
    7·2 answers
  • Stacey inherits unimproved land (fair market value of $6 million) from her father on June 1, 2019. She disclaims her interest in
    6·1 answer
  • Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its ave
    10·1 answer
  • If people save more and spend less, the aggregate demand curve shifts to the right.
    7·2 answers
  • A U.S. investor has borrowed pounds, converted them to dollars, and invested the dollars in the United States to take advantage
    10·1 answer
  • If the demand for a good falls when income falls, then the good is called a. a normal good. b. an ordinary good. c. a regular go
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!