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3 years ago

Help please

Business

2 answers:

Inessa [10]3 years ago

7 0

Your math is correct

Two things tho, this would go under the math category not business and how did you draw that 3D box perfectly?

-IronWolfX

RSB [31]3 years ago

4 0

Everything looks correct

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At the beginning of Year 1, the company's inventory level was stated correctly. At the end of Year 1, inventory was overstated b

Furkat [3]

Answer:

$5,000 ; $2,550

Explanation:

The computation is shown below:

For net income in year 1

= Reported net income + overstated inventory amount

= $3,000 + $2,000

= $5,000

For net income in year 2

= Reported net income - understated inventory amount

= $3,000 - $450

= $2,550

Therefore, the net income in Year 1 and in Year 2 is $5,000 and $2,550 respectively.

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A fourminusfirm concentration ratio measures

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3 years ago

The current five year euro yen rate is 6% per annum (compounded annually). the five year eurodollar rate is 8.5%. what is the im

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The implied forward premium or discount of the yen (over the current spot rate) for a five year forward contract would be 12.36 percent premium.

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3 years ago

Walman Corp. manufactures products X, Y, and Z from a joint production process. Joint costs are allocated to products on the bas

rewona [7]

Answer:

We will only produce further product Y and Z

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We should check the increase in sales revenue with the increase in cost to know if further process acheive a gain:

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3 years ago

Manning Manufacturing Inc. had the following items that require adjustment at year end.

Ostrovityanka [42]

Answer:

1. a. Debit Salaries $5,320

Credit Accrued Salaries $5,320

Being accrued salaries for December 31

b. Debit Utilities $1,970

Credit Accrued Utilities $1,970

Being accrued Utilities for December 31

c. Debit Interest $925

Credit Accrued Interest $925

Being accrued Interest note payable for December 31

2. Income statement will be overstated by the sum of $8,215

Explanation:

The are the adjusting entries needed at December 31.

1. a. Debit Salaries $5,320

Credit Accrued Salaries $5,320

Being accrued salaries for December 31

b. Debit Utilities $1,970

Credit Accrued Utilities $1,970

Being accrued Utilities for December 31

c. Debit Interest $925

Credit Accrued Interest $925

Being accrued Interest note payable for December 31

2. The effect on the financial statements if these adjusting entries are not made is that the income statement will be overstated by the sum of $8,215 , Below is the computation:

Salaries $5,320

Utilities $1,970

Interest $925

Total expenses $8,215

8 0

3 years ago