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
Serjik [45]
4 years ago
8

Euler Company made an inventory count on December 31, 2014. During the count, one of the clerks made the error of counting an in

ventory item twice. For the balance sheet at December 31, the effects of this error are
A) overstated understated overstated
B) understated no effect understated
C) overstated no effect overstated
D) overstated overstated understated
Business
1 answer:
Tpy6a [65]4 years ago
6 0

Answer:

C

Explanation:

Euler Company made an inventory count on December 31, 2014. During the count, one of the clerks made the error of counting an inventory item twice. For the balance sheet at December 31, the effects of this error are overstated no effect overstated

This means the asset is overstate, no effect on liabilities and Euler Company 's equity is overstated

You might be interested in
Brief Exercise 229 On January 1, the Biddle & Biddle, CPAs received a $7,500 cash retainer for accounting services to be pro
Gnoma [55]

Answer:

                                                   Debit                  Credit

Unearned revenue                    $2,500

($7,500/3)

Revenue                                                                $2,500

Explanation:

The following adjusting entry shall be recorded in the accounts of the Biddle and Biddle, on January 31, in respect of revenue earned by it from accounting services:

                                                   Debit                  Credit

Unearned revenue                    $2,500

($7,500/3)

Revenue                                                                $2,500

5 0
4 years ago
Having which trait will enable you to deal with people in a way that does not offend them?
nadya68 [22]
It may be interpersonal skills but I’m not very sure
6 0
3 years ago
Read 2 more answers
What is the basic purpose of the consumer price index (CPI)? A. to track monthly changes in prices paid by urban consumers B. to
Elina [12.6K]

Answer:

A). to track monthly changes in prices paid by urban consumers.

Explanation:

CPI(Consumer Price Index) is characterized as 'a statistical estimate of the price level of goods and services bought by consumers for consumption purposes by the households.' It primarily aims to estimate the change or swap in the prices of the weighted average price of the common basket(consumption goods, as well as, services that the consumers pay for). It is calculated using the formula;

CPI_{t}  = \frac{C_{t} }{C_{0} } * 100

where,

CPI_{t} = current Consumer Price Index

C_{t} = Current price basket

C_{0} = Cost of price basket in the base year

It assists in deducing whether the average prices have received a fall or rise and determines inflation or deflation. Thus, <u>option A</u> is the correct answer.

6 0
3 years ago
Why is barter inefficient?
Alexxandr [17]

Answer:

People didn't want to trade their goods for other goods anymore.

Explanation:

People wanted to have both their item and another item (which they wanted to buy). Then currency was invented.

3 0
3 years ago
Mr. Henshaw, CEO of MBA Bank, decides that the organization needs to provide more convenient service to customers. He decides to
ANTONII [103]

Answer: unfreezing

Explanation:

The unfreezing stage of Lewis change process is being regarded as the first stage of change, and in this stage, an organization is being prepared and accept that change is inevitable and necessary and that existing status quo should also be broken.

This is illustrated in what Mr. Henshaw, CEO of MBA Bank did, by deciding that the organization needs to provide more convenient service to customers.

6 0
3 years ago
Other questions:
  • A company buys treasury stock for? $10 per share. the company later sells the treasury stock for? $11 per share. what is the dif
    10·1 answer
  • On Aug 7, 2014 the stock AAPL closed at $94.48. At this time, the call with strike $94 and expiration Aug 29, 2014 was traded at
    11·1 answer
  • Lund Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any under o
    9·1 answer
  • How is a free-market economy different from a mixed economy?
    7·2 answers
  • If tea and coffee are substitute goods, which of the following is likely to occur if the price of coffee has increased?
    13·2 answers
  • PLEASE HELP???
    9·1 answer
  • You have a great idea for a business and are excited to get to work. You come across a similar business when doing searches onli
    8·1 answer
  • I need some rare car brands for my channel please do not include Mitsubishi, pontiac, and mazda.
    7·1 answer
  • Monroe minerals company purchased a copper mine for a 126,500,000 the mine was expected to produce 50,000 tons of copper over it
    7·1 answer
  • Briyana has $150, and she needs to save at least $560 for a spring break trip. if she can save $45 per week, how long will it ta
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!