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monitta
2 years ago
7

9-10. Armstrong Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/14 and 12/31/15 containe

d the following errors: 2014 2015 Ending inventory $25,000 overstatement $40,000 understatement Depreciation expense 10,000 understatement 20,000 overstatement 9. Assume that the 2014 errors were not corrected and that no errors occurred in 2013. By what amount will 2014 income before income taxes be overstated or understated? a. $35,000 overstatement b. $15,000 overstatement c. $35,000 understatement d. $15,000 understatement
Business
1 answer:
IceJOKER [234]2 years ago
5 0

Answer:

Consider the following explanation

Explanation:

If these error are nit corrected, the income before taxes be overstated by $ 35,000 .

As, Overstatement of Ending Inventory will affect the gross profit (Increase) by $ 25,000 and then understatement of Depreciation will further increase Net Profit by $ 10,000

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Answer:

b. It is important to realize that for training to be effective, both learning and transfer of training are needed.

Explanation:

Training is an educational process which involves the sharpening of skills, concepts, changing of attitude and gaining more knowledge to enhance the performance of the employees.

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2 years ago
A homeowner sued a plumber for damages resulting from the plumber's allegedly faulty installation of water pipes in her basement
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3 years ago
Limerick, Inc. has budgeted total sales for January, February, and March of $800,000, $900,000, and $950,000 respectively. Cash
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Answer:

$905,000

Explanation:

February Collection will be as follows :

<em>February Collection = Cash Sales + Credit Sales </em>

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7 0
3 years ago
Investing $2,000,000 in TQM's Channel Support Systems initiative will at a minimum increase demand for your products 3.0% in thi
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Answer:

the payback period is 14 months

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The computation of the payback period is shown below:

Profit is

= $2,000,000 - $1,669,426

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= 1 + $330,574 ÷ $1,669,426

= 1 +0.198 years

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8 0
3 years ago
Kim, chris, and beth are all partners in a cosmetics firm. kim is leaving the partnership and wants to sell her shares of the bu
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The answer for your question is B
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3 years ago
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