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
Kazeer [188]
3 years ago
11

During the taking of its physical inventory on December 31, Almond Supplies Company incorrectly counted its inventory as $545,00

0 instead of the correct amount of $554,000. Indicate the effects of the misstatement on Almond Supplies Company’s balance sheet and income statement for the year ended December 31.
Business
1 answer:
IceJOKER [234]3 years ago
5 0

Answer and Explanation:

The effect of undervaluation of Inventory is shown below:-

Inventory Understated = Inventory counted + Correct value of inventory

= $545,000 - $554,000

= $9,000

Now, the effect of undervaluation of Inventory is

Cost of goods overstated by $9,000

Net income understated by $9,000

Retained earning understated by $9,000

Assets (Current assets - Inventory) understated by $9,000

You might be interested in
Is a decline in the value of the real against the us dollar good for embraer, bad for embraer, or a mixed bag? explain your answ
avanturin [10]

The decline in value of the real towards the U.S. greenback changed into precise for Embraer due to the fact the components for the nearby jets cost much less once they were translated into reals, making it tremendously reasonably priced to produce. therefore, Embraer's earnings margins have been high.

A decline in value takes place in any 12 months in which the modern market fee of actual assets is less than its adjusted base year price as of the lien date, January 1.

A depreciating asset is an asset that has a restrained powerful existence and may fairly be predicted to say no in value over the time it's miles in use. equipment, gadgets,s and different gadgets along with computer systems and books are depreciating property.

For example, if an asset is used 40% of the time for a non-public motive, the deduction for its decline in value is decreased by 40%. The decline in fee of positive property costing $300 or less may be the value, this is, you may be entitled to an immediate deduction.

Learn more about the decline in value here

brainly.com/question/25297296

#SPJ4

3 0
1 year ago
An advantage of tradable emissions permits is that: Group of answer choices they provide incentives for firms to develop technol
mars1129 [50]

Answer:

they provide incentives for firms to develop technologies that are less polluting.

Explanation:

Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.

Offset trading refers to a type of trading system that is typically designed for the realization of more efficient pollution control.

This ultimately implies that, it can be described as a program that allows new firms to pay existing firms to reduce their emissions below a standard.

Free market in tradable pollution permits simply means giving manufacturing companies and individuals the legal right to pollution of the environment. For example, XYZ company is purchasing the permit of 500 units of carbon dioxide (CO2) pollution annually, this simply means it is permitted to pollute the environment by 500 units of CO2 annually.

Additionally, a free market in tradable pollution permits has some sort of benefits as companies can resell their unused permits or devise a cheaper means of reducing pollution. It also compensate companies that significantly reduces its pollution of the environment.

Hence, an advantage of tradable emissions permits is that they provide incentives for firms to develop technologies that are less polluting because it would reduce the amount they would have to pay for pollution.

3 0
2 years ago
Which country has had a higher growth rate than the US over about the last 120 years?
Drupady [299]
Highest growth rate based on GDP rate is found in Japan. This has been an ongoing trend for the last 100 years.
6 0
2 years ago
A company produces a single product. Variable production costs are $13.20 per unit and variable selling and administrative expen
Alex Ar [27]

Answer:

the ending inventory is $13,200

Explanation:

The computation of the dollar value of the ending inventory under variable costing is shown below:

= Variable production cost per unit × difference in units

= $13.20 per unit × (5,200 units - 4,200 units)

= $13.20 per unit × 1,000 units

= $13,200

hence, the ending inventory is $13,200

5 0
2 years ago
An investment counselor calls with a hot stock tip. He believes that if the economy remains​ strong, the investment will result
liubo4ka [24]

Answer:

$6,000

Explanation:

The computation of the expected profit from this investment is shown below:

= Strong profit × Strong percentage + Moderate profit × moderate percentage - recession losses × recession percentage

= $60,000 × 20% + $10,000 × 60% - $60,000 × 20%

= $12,000 + $6,000 - $12,000

= $6,000

By adding the three situations we can get the expected profit from this investment

3 0
3 years ago
Other questions:
  • Sasha's new company has told her that she will be required to move at her own expense in two years. What should she consider bef
    15·2 answers
  • A marketing company wants to estimate the proportion of consumers in a certain region of the country who would react favorably t
    13·1 answer
  • Item 8Item 8 Rick’s Cafe is a new restaurant in town. It has Rick, (the owner), five waitstaff, two cooks, a busboy, and a hoste
    15·1 answer
  • A stock is currently selling for $75 per share. You could purchase a call with a strike price of $73 for $4. You could purchase
    15·1 answer
  • What are the business debts called?
    5·2 answers
  • Aircraft Products, a manufacturer of aircraft landing gear, makes 1,000 units each year of a special valve used in assembling on
    11·1 answer
  • Pearland, Inc. has 8,000 shares of preferred stock outstanding. The preferred stock has a $90 par value, a 13% dividend rate, an
    15·1 answer
  • Rent control is a type of what?
    6·1 answer
  • Match each term with the correct definition.
    9·1 answer
  • How can financial risks in a supply chain be managed?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!