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Rasek [7]
3 years ago
6

"2016: Ending inventory was overstated by $60,000 while depreciation expense was overstated by $25,400. 2017: Ending inventory w

as understated by $6,500 while depreciation expense was understated by $4,800. By how much should retained earnings be adjusted on January 1, 2018?"
Business
1 answer:
liberstina [14]3 years ago
5 0

Answer:

$25,800 increase

Explanation:

The computation of the adjusted retained earning balance is shown below:

Ending inventory was overstated - no change

Add: Depreciation expense was overstated         $24,100

Add: Ending inventory was understated               $6,500

Less: Depreciation expense was understated     ($4,800)

Adjusted retained earning balance                     $25,800

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3 years ago
F a taxpayer offers you a $20 bill because they were so happy about the quality service they received, what would be the appropr
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6 0
3 years ago
Read 2 more answers
for having a manuscript typed at a certain typing service are $5 per page for the first time a page is typed and $3 per page eac
Kipish [7]

Answer:

total cost of having the manuscript type is $680

Explanation:

given data

first time = $5 per page

revised = $3 per page

manuscript = 100 pages

revised only once = 40

revised twice = 10

to find out

total cost of having the manuscript typed

solution

we know for 1st time page  cost is

page 1st time = 100 - 40 - 10  = 50 page

cost 1st time = 50 × $5 per page = $250    .................1

and

for first revision

first revision page = 40

cost of first revision = 40 × ( first time $5 + first revision $3 )

cost of first revision = 40 × 8 = $320       ......................2

and

for second revision

second revision page = 10

second revision cost = 10 ×  ( first time $5 + first revision $3 + second revision $3  )

second revision cost = 10 × 11 = $110     ..........................3

add all 3 equation

total = $250  +  $320 + $110

so total cost of having the manuscript type is $680

6 0
3 years ago
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