Answer:
$28,000
Explanation:
When closing inventory is understated during an year, it would lead to understated profits during the year i.e understated net income for the year 2018.
So, correct pre tax income for 2018 would be,
= reported pre tax income + the amount by which closing inventory was understated
= $25,000 + $2000 = $27000
Now, since the same closing inventory would become the opening inventory for 2019, this means, the opening inventory for 2019 was understated.
When opening inventory is understated, it would lead to inflated net income for the year 2019. Thus, the extent by which the inventory has been understated has to be reduced from the reported pre tax profits for the year 2019.
Hence, correct pre tax income for 2019 would be,
= $30,000 - $2000 = $28000
Answer:
$235,000
Explanation:
The computation of the goodwill amount attributed is shown below:
Common stock $1,660,000
Preferred stock $630,000
Non controlling interest in common stock $415,000
Non controlling interest in preferred stock $270,000
Fair value at acquisition date $2,975,000
Book value $2,740,000 (560,000 + $810,000 + $360,000 + $1,010,000)
Goodwill $235,000
Answer:
Disclose unaffiliated customers sales and also the intra-company sales between geographical areas.
Explanation:
Public companies are required to disclose the amount of sales to unaffiliated customers by geographical region. At the same time, they must also disclose the intra-company sales between geographical areas. It is to be noted that the above said requirements are to be reported separately.
Answer: c. Ordinal
Explanation:
An ordinal variable is one where the variable is used to categorize data in a qualitative way which can be ordered and ranked. For instance, in the case of schooling, the levels are: elementary, high school and college. Graduates from each level can be ranked in relation to each other.
A research survey therefore that has outcomes such as Poor, Average, Good, Excellent is using ordinal variables because these are qualitative and can be ranked in relation to one another.
