Answer:
Dr retained earnings($21,600+$15,800) $37,400.00
Cr accumulated depreciation $21,600
Cr inventory $15,800
Explanation:
The errors that require adjustment are the overstatement and understatement of depreciation expense as well as the December 2021 overstatement of inventory.
The understatement of inventory in 2020 would have self-corrected itself in 2021 since closing inventory in 2020 deducted from costs of goods available for sale would be introduced as opening inventory in 2021.
net effect of depreciation=understatement -overstatement=$37,500-$15,900=$21,600.00
hence retained earnings would reduce by $21,600.00
for the overstatement of inventory,retained earnings would reduce by $15,800
Answer:
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The correct answer is B) Compute gross margin per sales point.
Caroline is conducting a share point analysis for Bloomingdale's. First, she estimates total industry sales by compiling a list of all department stores and their sales for the previous year. Next, she estimates Bloomingdale's market share within the industry. To find the value of one share point, Caroline must <em>compute the gross margin per sales point.</em>
Gross margin is part of the income statement that firms or industries need to elaborate every year. This metric indicates a detailed description of a company's revenues, expenses, and profit. When preparing a budget, gross margin defines the limits a company must take into account. That is why Caroline must pay close attention to the calculation and computing.
Answer:
The expected return = 10.739.
Explanation:
Given risk-free rate of return = 2.3 per cent
Market expected return = 12 percent
The value of beta = 0.87
Use the below formula to find the expected return.
The expected return = Risk free rate of return + Beta × (Market expected return - risk free rate of return)
The expected return = 2.3 + 0.87 (12 – 2.3)
The expected return = 10.739
Markets provide the efficient amount of a good or service when <span>externalities and public goods are absent.
Externalities in this case refers to an unpredictable occurence such as natural disasters, and public goods refers to the goods that given from the government for lower or higher than the market price</span>
