Answer:
Total Assets
Inventory is understated by $59,300 at the end of the year which means that assets are understated by the same amount.
To rectify this therefore you;
= 6,395,000 + 59,300
= $6,454,300
Net Income
When closing inventory is understated, it will have the effect of understating income and when opening inventory is understated, income will be overstated.
This means that the income for the year is overstated by $139,000 but understated by $59,300.
Corrected income is;
= 500,000 - 139,000 + 59,300
= $420,300
Answer:
entities.
Explanation:
First of all, in project management, an entity is any physical resource, concept or incident which is important to the development of the project and can be recorded.
Usually entities are tracked using an entity relationship diagram that shows hows this entity relates to the project, its importance and its main attributes.
Answer:
$7.79
Explanation:
The price level that should be choose in order to maximize the profit is $7.79
As when there is a price fixing that lies between the two rivalrs so if one rivalr select to fix the price it should not be more than the rivalr marginal cost i.e. price and it is more than the price .
here the price fixing is $10 so the price level would be less than the rivalr price and more than the marginal cost
Therefore it is $7.79
If you're likely to be dipping into some of that money to fix the house, take a vacation, or buy holiday presents, don't put too much into a long-term CD. Like savings, checking, and money market accounts, CDs are FDIC insured for up to $100,000
Answer:
LIFO Periodic method
Explanation:
The LIFO means Last In First Out this means that item that have been stocked today would be sold first although there’s still some inventory from previous periods.
Using LIFO would result in lower ending inventory because closing inventory would be valued at low price which they had been bought assuming that there’s now a hick in price and goods in the warehouse were stocked when prices were low.
LIFO is used for the manipulation of profit.
