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
solniwko [45]
3 years ago
10

When taking a physical inventory, the company inadvertently counted its inventory as $34,000 instead of the correct amount of $4

3,000. Indicate the effect of the misstatement on the balance sheet of the current year.
Business
1 answer:
ivann1987 [24]3 years ago
6 0

Answer: The current asset of the company is understated by $9,000.

Explanation: Inventory reports under current assets in the balance sheet (statement of financial position). If the inventory is misstated (understated), it means the company's total assets would be less than expected, since there is a decrease in current asset. This would subsequently affect the cash flows and lead to difficulty in reconciling the physical inventory to expected turnover, this may also lead to theft since it is currently understated in the books.

You might be interested in
If you expect a stock be priced at $80 in one year and pay a dividend of $1.85, what is the most you would be willing to pay for
ElenaW [278]

Willing to pay for the stock today is  $72.43.

Given values, Dividend = $1.85

                      Price = $80

                      return = 0.13

Formula, Current Price = (Dividend + Price ) / (1 + return )

                                     = (1.85 + 80) / (1+ 0.13)

                                     = $72.43

The number one purpose that buyers personal inventory is to earn a return on their funding. That go back commonly is available in  viable methods: The stock's price appreciates, this means that it is going up. you can then promote the stock for a profit if you'd like.

The very best way to shop for stocks is thru a web stockbroker. After beginning and funding your account, you may buy shares via the broker's internet site in a remember of minutes. Other options encompass the use of a full-provider stockbroker, or shopping for inventory directly from the company.

Learn more about stock here:-

brainly.com/question/25818989

#SPJ4

8 0
2 years ago
Sammy salt is an exempt employee and earns $275,000 per year. if sammy was paid on a weekly basis, what would his gross pay be?
egoroff_w [7]

Sammy salt makes $275,000 a year as an exempt employee. if Olivia was paid on a biweekly basis her gross pay would be $5,288.46.

A person's gross pay is their total earnings for a certain time period before any deductions are made. Gross compensation is determined before any deductions, such as those for required taxes and Medicare contributions, employer-provided health insurance, or retirement plans. The difference between the gross pay definition and the net pay definition is that the former excludes an employee's take-home compensation.

Employee's gross pay is their salary before any payroll deductions such as taxes, benefits, and other expenses are made. Net pay, often known as take-home pay, is the amount that is left after all withholdings have been taken into account.

To know more about Gross Pay refer to: brainly.com/question/14690804

#SPJ4

5 0
2 years ago
_______________ involves two or more individuals who believe that their attitudes, behaviors, or preferred goals are in oppositi
Elza [17]

Answer:B

Explanation:

7 0
3 years ago
Which mastery color indicates Apprentice level?<br> Yellow<br> Gray<br> Red<br> Green
masha68 [24]

Answer:

Which mastery color indicates Apprentice level?

Yellow

Gray

Red

Green

Answer: Green

Explanation:

An apprentice level is an arrangement of preparing another age of experts of an exchange or calling with hands on preparing and frequently some going with (study hall work and perusing). Apprenticeships can likewise empower experts to increase a permit to rehearse in a directed calling. A large portion of their preparation is done while working for a business who enables the apprentices to get familiar with their exchange or calling, in return for their proceeded with work for a concurred period after they have accomplished quantifiable abilities. Apprenticeship lengths fluctuate altogether across parts, callings, jobs and societies. Individuals who effectively complete an apprenticeship at times can come to the "understudy" or expert accreditation level of fitness.

6 0
4 years ago
The Palladian government required that all imported products that came from Lovaskiya be checked by Palladian customs inspectors
Andreyy89

Answer: Admin trade policy

                   

Explanation: Administrative trade policies are governmental guidelines that are programmed almost always intentionally to limit the distribution of a particular import into a nation.Anti-dumping programs are designed to condemn dumping foreign firms. If a company is found to be dumping, government imposes countervailing duties.

In the given case, Govt. too imposes heavy scrutiny policy on imports that are supposed to demotivate the exporters from other countries. Hence from the above we can conclude that the given case depicts admin trade policy.

7 0
3 years ago
Other questions:
  • You are a monopolist who sells textbooks to undergraduate students. Currently you sell 100 books at a price of​ $100 each, for r
    11·1 answer
  • Beginning in the 1940s, first-generation computers used _____.
    9·1 answer
  • Suppose a statistical study finds that the demand for Brand X automobile tires is Q​ = 800 minus−​5P, where Q is the number of B
    5·1 answer
  • In making adjusting entries at the end of its accounting period, chao consulting failed to record $3,700 of insurance coverage t
    9·1 answer
  • Which countries were involved in the central powers alliance.
    13·1 answer
  • Which of the following is the reason behind the slow growth in U.S. incomes during the 1970s and 1980s?
    12·1 answer
  • The six steps for recording a business transaction in the general journal are shown below, out of order. In your working papers
    9·1 answer
  • 81) When a seller advertises an item at a low price but once in store pushes a similar item at a higher price, the seller is par
    12·1 answer
  • ____________ is the process of selecting strategic price points to best take advantage of a product or service based market rela
    5·1 answer
  • What was the opening price of Dow Jones Industrial Average on May 16, 2017 in the format of XXXXX.XX?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!