Answer:
See below
Explanation:
1. Corrected amounts for 2020 cost of goods sold
= Cost of goods sold for 2020 - December 31, 2019 ending inventories overstated + December 31, 2020 ending inventories overstated
= $1,322,900 - $106,470 + $36,820
= $1,253,250
2. Correct amounts for December 31, 2020 retained earnings
= Retained earnings December 31, 2020 - December 31, 2020 ending inventories overstated
= 4,854,000 - $36,820
= $4,817,180
C. An increase in the price of piano parts(raw materials). Makes the firm purchase less raw materials(piano parts) to manufacture less finished goods(pianos) therefore less products(pianos) will be supplied.
Explanation:
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Answer:
D) S corporation.
Explanation:
S corporations do not pay any income taxes. Instead, shareholders pay individual taxes over their dividends.
In this case, the three shareholders are not thinking about getting any dividends for the first few years, they want to reinvest all profits, therefore, their company would not pay any taxes, and neither would they individually.
<span>they meet the needs of custmers while meeting satutory and regulatory requieremnts related to a product or program. ISO 9000 deals with the fundamentals of quality managements systems, including the seven quality managements principles upon which the family of standards is based.</span>