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puteri [66]
3 years ago
12

Blue Enterprises reported cost of goods sold for 2020 of $1,307,500 and retained earnings of $5,383,000 at December 31, 2020. Bl

ue later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $118,630 and $36,930, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.
Business
1 answer:
Sphinxa [80]3 years ago
4 0

Answer: See explanation

Explanation:

Based on the information given in the question, the corrected amounts for 2020 cost of goods sold would be:

= $1307500 + $36930 - $118630

= $1225800

The corrected Retained earnings would be:

= $5,383,000 - $36,930

= $5,346,070

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A buyer is closing on the purchase of a residence. The taxes for the year are estimated to be $4,780. The closing date is Januar
Aneli [31]

Answer:

For seller = $196.44

For buyer = $4583.56

Explanation:

Data provided in the question:

Taxes for the year = $4,780

Date of closing = January 16

since the day of closing belongs to the buyer therefore the seller owns the tax for 15 days only

Per day tax = [ Taxes for the year ] ÷ 365

= $4,780 ÷ 365

= $13.095 per day

Hence,

Proration will be

for seller = $13.095 per day × 15 days

= $196.44

For buyer = $4,780 - $196.44

= $4583.56

6 0
3 years ago
For important management positions companies often use​
natali 33 [55]

Answer:

The correct answer would be Specialized Executive Search Firms.

Explanation:

When companies hire employees, they usually use the conventional methods of recruitment, like giving ads in newspapers or pasting ad on a social job site, etc. But when employees for the important management positions are required to hire, companies often use Specialized Executive Search Firms. These are the recruitment firms which takes the demands of the employer and search for the best of the best candidates to be interviewed by the employers. Such firms have fine data about the best candidates in their databases which updates regularly. Also, after selecting the candidates, they first take initial interviews of the potential employees themselves and then route them to the employer.

4 0
3 years ago
Jaheem's business sells a single product. The following information was gathered from Jaheem's records: Price $24.00 per unit Va
pochemuha

Answer:

See below

Explanation:

With regards to the above, Jaheem's business profit increase is calculated as

= Fixed cost + Desired profit/Contribution margin

Given that;

Fixed cost = $400,000

Desire profit = $22,000

Contribution margin = $9.4

= $400,000 + $22,000/($24 - $14.6)

= $422,000/$9.4

= $44,894

Therefore, increase on profit

= $44,894 - $22,000

= $22,894

6 0
3 years ago
List three things you can do to improve job satisfaction
andrew-mc [135]

1. Respectful treatment of all employees at all levels

2. Trust between employees and senior management

3. Job security

Hope that helps :)

7 0
3 years ago
Read 2 more answers
In an outsourcing decision, developing and negotiating the outsourcing contract: is not an area where supply managers believe th
RoseWind [281]

Answer:

The correct answer is is of less strategic importance than identifying opportunities for outsourcing.

Explanation:

Outsourcing consists in the delegation of functions from one company to another that specializes in this task. Among its greatest benefits are cost reduction and access to new technologies, among others, however, if the service provider does not have sufficient capacity to perform this function, it may damage the image of the contracting company. This tool can be used tactically or strategically and can be adapted to the requirements of the company requesting the service, it is implemented at different levels and in areas of the organization that are not essential to gain competitiveness.

7 0
3 years ago
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