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
Blizzard [7]
3 years ago
6

Due to an error in computing depreciation expense, Prewitt Corporation overstated accumulated depreciation by $22 million as of

December 31, 2021. Prewitt has a tax rate of 25%. Prewitt's retained earnings as of December 31, 2021, would be: (Round million answer to 2 decimal places.) Multiple Choice Understated by $5.50 million. Overstated by $16.50 million. Overstated by $5.50 million. Understated by $16.50 million.
Business
1 answer:
Assoli18 [71]3 years ago
8 0

Answer:

the retained earnings are Understated by $16.50 million

Explanation:

Given that

There is an overstated in the accumulated depreciation by $22 million

And, the tax rate is 25%

So the retained earnings is ,

= $22 million - (25% of $22 million)

= $22 million - $5.5 million

= $16.50 million

this amount should be understated

Hence, the retained earnings are Understated by $16.50 million

Therefore the last option is correct

You might be interested in
The new fund had average daily assets of $3.8 billion in the past year. The fund sold $416 million and purchased $516 million wo
makvit [3.9K]

The excess of purchases over sales is most likely due to new inflows into the fund.

Therefore only $416 million of stock held by the fund was replaced by new holdings.

Turnover Ratio =  Total sales/ total assets = $416/$3,800 = 10.95% (Rounded to 2 decimals)

Turnover Ratio = 10.95%


4 0
4 years ago
To all the people who wacth Mha, whats your fav thing about it?
daser333 [38]
I love the character development
7 0
3 years ago
Read 2 more answers
Which of the following is the best summary of GDP? Select one:
Fiesta28 [93]

Answer:

Letter B is correct.

Explanation:

GDP is the sum of all that is produced, consumed and distributed in the country over a period of one year. This is the main measure for assessing and comparing one economy with others in the world. There are two approaches to measuring GDP, namely: Expenditure Approach and Income Approach. Demand for consumption, exports and imports and government spending is represented by the expenditure approach. The income approach is all income earned from everything that is produced in the economy.

7 0
3 years ago
Organic foods international has decided to increase its market share by hiring a marketing rep to visit businesses in the area a
katrin2010 [14]
<span>Organic foods is using a growth strategy. A growth strategy is a strategy companies use when they want to grow their product depth, customer basis or product knowledge. There are four broad growth strategies to help a company achieve success. The four main growth strategies are </span>diversification, product development, market penetration, and market development.  
4 0
4 years ago
Think through the SWOT analysis and think about your personal product offering. Focus on the specific value you would bring to t
Svetllana [295]

Answer:

Following are the responses to the given question:

Explanation:

I possess good leadership qualities that distinguish me from other potential people. I also strong position in leading groups. In contact I'm fine. I'm nice. I convey my thoughts but also hear everything they have and say quite well in front of others. I am now a logical thinking instructor and make rational and factual decisions. I am supermotard and face a difficult problem while other potential employees may try to avoid problems or challenges and run away from them.

Its business I am employed for is better for me since I could be a great asset for the business which can successfully do any job it could do. For every job or job that my boss provides to me, I'd try my support. I'm timely but good for individuals who are very important to influence and manage. Let us say that I'll be a salesperson so I can influence customers or their selection of purchase by my social skills. I'd use my abilities and close the boss's sales contract.

7 0
4 years ago
Other questions:
  • A firm currently sells its product for $5. It estimates that its average total cost of production is $6 and its average fixed co
    10·1 answer
  • The ________ leader is one who delegates decision making and encourages subordinates to take responsibility.
    13·1 answer
  • Roberta makes $9 an hour plus a 12.5% commission selling jewelry. how much does she earn on an 8 hour shift in which she sells $
    10·2 answers
  • The format displayed is used by Gee, Inc., for its Year 4 statement of changes in equity. When both the 100% and the 5% stock di
    8·2 answers
  • To live comfortably in retirement, you decide you will need to save $2 million by the time you are 65 (you are 30 years old toda
    12·1 answer
  • Meredith Company’s records reflected the following as of September 30: Currency and coins $ 12,500 Customer checks on hand (not
    15·1 answer
  • Anderson Company has purchased a group of assets for $ 21 comma 100. The assets and their relative market values are listed belo
    8·1 answer
  • Southport industries company has current assests of $610000 and a current ratio is 4.1. Assume that the company prepays rent for
    5·1 answer
  • How can supply and demand for different careers affect job stability and income? Should you think about supply and demand when c
    8·1 answer
  • Which of Electrolux's foreign investments would be horizontal and which would be vertical? What are the advantages of each?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!