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Westkost [7]
3 years ago
15

Poppy co. uses a periodic inventory system. beginning inventory on january 1 was understated by

Business
1 answer:
Dahasolnce [82]3 years ago
8 0
Poppy co. uses a periodic inventory system. Beginning inventory on January one was understated by $30,000, and its ending inventory on December thirty-one was understated by $17,000. A purchase of merchandise costing $20,000 was incorrectly recorded as a $2,000 purchase. None of these errors were discovered until the next year. As a result, Prunedale's cost of goods sold for this year was: Understated by $31,000.
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G explain why a rii fractional experiment is a bad idea? use an example to illustrate your point.
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3 years ago
Which industry constitutes a larger share of gni for most countries in the region?
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Urban-based industrial and service economies constitutes a larger share of GNI for most international locations in the region.

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Low-income economies are exceptionally observed in Asia and Africa, the place most of the world's populace lives (World Bank 2011).

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If a company using accrual-basis accounting wanted to overstate their income at the end of the fiscal year with increased shipme
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The two accounts that would be most at risk are: Sales and Accounts Receivable

Accrual method of accounting is an accounting method that reports on the company book  <em>revenue</em> and expenses as they occur in which assets are then adjusted when revenue and expenses are paid.

Assuming  a company or organization are to increased shipments which they are  having doubt about as to whether those shipment would either be returned or not paid for.

The company book would show increase in income and increase in account receivable as the company is yet to receive payment for the goods that were shipped.

In a situation were the goods that was returned are high which means that at the end of the fiscal year both sales and  account receivable account will be affected.

Inconclusion The two accounts that would be most at risk are: Sales and Accounts Receivable.

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