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malfutka [58]
3 years ago
13

If the ending inventory in the previous period was understated $17,000 and the ending inventory in the current period was overst

ated $27,000. Which of the following is understated in the current period?
a. Owner's equity
b. Cost of goods sold
c. Net income
d. All the other answers are correct
Business
1 answer:
kotegsom [21]3 years ago
4 0

Answer:

In the current period,

b. Cost of goods sold

Explanation:

With the current period's beginning inventory (or previous period's ending inventory) understated by $17,000 and the overstatement of the current period's ending inventory by $27,000, it implies that the Cost of goods sold is understated by $10,000.  Once this cost is understated, the net income will be overstated, as well as the owner's equity (via the retained earnings).

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Your corporation has a marginal tax rate of 35% and has purchased preferred stock in another company. The before-tax dividend yi
Leni [432]

Answer:

5.37%

Explanation:

According to the scenario, computation of the given data are as follow:-

We can calculate the company’s after tax return on preferred by using following formula:-

Company’s After Tax Return = Before Tax Dividend Yield Rate on Preferred Stock × [1 - (1 - Dividend Exclusive) × (Tax Rate)]

= 6% × [1 - (1 - 70%) × (35%)]

= 0.06 × [1 - (1 - 0.70) × (0.35)]

= 0.06 × [1 - (0.30) × (0.35)]

= 0.06 × (1 - 0.105)

= 0.0537

= 5.37%

We simply applied the above formula to determine the company after tax return

8 0
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Blababa [14]

Answer:

Perfect Tender Rule

A. True

Explanation:

The Uniform Commercial Code's Article 2 recognizes the legal right of a buyer of goods to demand precise conformity of the goods to the product description in quality, quantity, and delivery manner.  Therefore, the buyer may reject goods offered by the seller which do not conform to the earlier product descriptions.  This rule is called the Perfect Tender Rule.  An exception to this rule will be if the seller has a reason to believe that non-conforming goods will be acceptable to the buyer.

4 0
3 years ago
How is Change Management related to Baselining?
zheka24 [161]

Answer:

hope it helps..

Explanation:

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docker41 [41]

Answer:

A) True

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In general, how would your best friend describe you as a risk taker?
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Answer:

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