Answer:
D. $30,000 overstated
Explanation:
Understatement of ending Inventory overstate the value of cost of Goods sold and understate the value of Net income and retained earning as well.
Overstatement of ending Inventory understate the value of cost of Goods sold and overstate the value of Net income and retained earning as well.
In 2016 the net income and retained earning was understated by $120,000.
In 2017 the net income and retained earning was overstated by $150,000.
Net Effect of both event in Retained earning at January 1, 2018
$150,000 overstated - $120,000 understated = $30,000 overstated
Answer:
Janice is a public accountant
Explanation:
Public accounting refers to a business that provides its services to other firms at large. By Janice being the owner of such firm she is referred to an accountant that provides her services to the public and she can also be referred to as a certified public accountant
Capitalism because it was on the day they did it
Answer:
$164,313.82
Explanation:
In this question we have to apply the present value formula i.e to be shown in the attachment
Provided that,
Future value = $0
Rate of interest = 9%
NPER = 20 years
PMT = $18,000
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after applying the above formula the present value is $164,313.82
When in the statement of cashflows, the cash inflows and the outflows are added, the result is the <u>change </u><u>in the </u><u>cash balance. </u>
The statement of cashflows shows the movement of cash in a company and how much cash the company is left with at the end of the period.
The statement includes:
- Cash outflows which are deductions
- Cash inflows which bring in money
Cash outflows are denoted in negatives and when added to cash inflows, show the change in the cash that the company has / its balance.
In conclusion, adding the cash inflows and outflows shows the change in cash.
<em>Find out more at brainly.com/question/15214250. </em>