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
Ratling [72]
3 years ago
13

Pow Corp. accidentally overstated its 2018 ending inventory by $750. Assume that ending 2019 inventory is accurately counted. Th

e error in 2018 will have what effect on Pow Corp.? a. 2018 net income is understated by $750. b. 2018 net income is overstated by $750. c. 2019 net income is understated by $750. d. Both b and c are correct.
Business
1 answer:
sergeinik [125]3 years ago
8 0

Answer:

b. 2018 net income is overstated by $750

Explanation:

As the ending inventory is overstated the COGS will be understated thus, the income was overstate as well. Because the expenses reduced from the sales revenues were lower than correct.

Also we can deduct the same logic considering the accounting equation

Assets = liab + equity

if asssets are 750 higher than it should, then Equiy is higher as well

+750  = +750

Equity is affected for the net income and dividends. Thus, we can also conclude the net income is overstated by 750

You might be interested in
What is the best answer choice
Scrat [10]
The answer to that would be B.
3 0
3 years ago
Kaplan Corp. is evaluating the purchase of a small firm, Pahl Corp., which manufactures ornamental gadgets, products involving a
Neko [114]

Answer: The correct answer is "A. Question marks".

Explanation: This firm would be placed in the "Question marks" category of bussiness in the BCG matrix.

The questions are those that still do not know what their evolution will be (usually those that are in the development or launch phase), but which can become star products.

7 0
3 years ago
Sarah is delivering a presentation on time management in the workplace. Each slide consists of not more than four to five points
svetlana [45]

In PowerPoint, you can use the speaker note section to make notes to yourself of things you want to be sure and say during your talk. The audience will not see these notes, they are only on the presenters screen (if the presentation is configured properly).

4 0
3 years ago
At the end of each day, panera bread restaurants donate leftover bread and baked goods to food banks and local charities. the co
Nimfa-mama [501]

Answer:

They appear to be giving back to the community with food to help the hungry or the homeless.

Explanation:

In the paragraph above they mention practicing. Greenwashing can make a company appear to be more environmentally friendly than it really is. My hope is panera really is doing this for the greater good.

4 0
3 years ago
Read 2 more answers
This company was incorporated as a new business on January 1, 2019. The company is authorized to issue 50,000 shares of $5 par c
weqwewe [10]

Answer:

Amount of the company's total capital stock at December 31, 2019:

Common stock = 8,000 x $15 =                 $120,000

Preferred stock = 2,000 x $30 =               <u>$60,000</u>

Total issued share capital                          $180,000

Add: Net income at 31 December, 2019    <u>$375,000</u>

Total capital stock                                        <u>$ 555,000</u>

<u />

Explanation:

Total capital stock is the aggregate of par value of common stock, par value of preferred stock and net income.

8 0
3 years ago
Other questions:
  • Vandalay Industries manufactures two products: toasters and blenders. The annual production and sales of toasters is 2100 units,
    5·1 answer
  • Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one depa
    10·1 answer
  • Threadless allows customers to submit their own designs and to vote on which designs they would like to see printed on a T-shirt
    6·1 answer
  • Assume that Sample Company purchased factory equipment on January 1, 2016, for $60,000. The equipment has an estimated life of f
    11·1 answer
  • In considering the market for yen and dollars, when the dollar depreciates:_________
    13·1 answer
  • The board of directors of Yancey Company declared a cash dividend of $1.50 per share on 42,000 shares of common stock outstandin
    8·1 answer
  • The "liability of foreignness" is the: a. political disadvantage that U.S. firms have when doing business abroad. b. inability o
    14·1 answer
  • What is meant by trigonometric ratios?​
    15·2 answers
  • How long will it take my investment to grow calculator
    11·1 answer
  • accounting information is if similar items are treated the same way among various companies highlighting similarities and differ
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!