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malfutka [58]
2 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]2 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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Alchen [17]
They could change for many reasons some being:
1. if you're not on a lease the rent can go up at any time only
2. if you are on a lease regardless improvements to your home the landlord can raise it every year.
3. if you have a mortgage w a variable APR your mortgage/ housing needs change monthly
4. your goals would change if maybe you wanted to move closer to your job or you got a new job and you need to move closer
5. maybe if you got married or had kids your housing gold would change.
6. maybe you live in not such a nice neighborhood and you'd like to live in a neighborhood less crime your goals would change
not sure if those are the answers you're looking for but there's so many different reasons that your housing needs and goals could change
4 0
3 years ago
Millie is a buyer who has given her agent an earnest money check for $10,000 with an offer to purchase. when will the check be d
maks197457 [2]

The answer is After the seller accepts the purchase offer.

Millie is a buyer who has given her agent an earnest money check for $10,000 with an offer to purchase. The check will be deposited after the seller accepts the purchase offer.

What is Purchase offer?

  • An offer could be a conditional proposition made by a buyer or vender to purchase or offer an resource, which gets to be lawfully authoritative in case accepted.
  • There are numerous different types of offers, each of which incorporates a particular combination of highlights extending from estimating prerequisites, rules and controls, sort of resource, and the buyer's and seller's motives.
  • When it comes to value and obligation offerings, the advertising cost is the cost at which freely issued securities are advertised for buy by the venture bank guaranteeing the issue.

To know more about offer visit:

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4 0
1 year ago
Grameen Bank extends credit to the very poor to give them the opportunity to build better lives. Other businesses target poor pe
Dvinal [7]

Explanation:

Grameen bank is one of the pioneers in the world of Micro Finance Institutes, which not only provides the poor with access to financial capital but also helps them build a better business which allows them to escape from the poverty cycle. This lead to an overall upward economic movement in the society, improving the economic condition of a country as a whole. Through these micro finance loans, a number of SMEs (Small and Medium Enterprises) emerges which further provide employment opportunities to other people thus starting a virtuous cycle of economic growth.

As the economic condition of the poor becomes better, these poor people inturn becomes customer for these business for other products thus being a huge source of profit.

8 0
3 years ago
A company desires to sell a sufficient quantity of products to earn a profit of $280000. If the unit sales price is $16, unit va
Alex Ar [27]

Answer:

$270,000

Explanation:

Data provided

Quantity of products = $280,000

Total fixed costs = $800,000

Unit sales price = $16

Variable cost = $12

The computation of units must be sold is shown below:-

Contribution per unit = $16 - $12

= $4 per unit

Units must be sold = (Quantity of products + Total fixed costs) ÷ Contribution per unit

= ($280,000 + $800,000) ÷ $4

= $1,080,000 ÷ $4

= $270,000

7 0
2 years ago
Charu Khanna received a Form 1099-B showing the following stock transactions and basis during 2019 Stock Date Purchased Date Sol
AysviL [449]

Answer:

Charu Khanna

The Net capital loss is:

= $2,000.

Explanation:

a) Stock Transactions and Data during 2019:

Stock                                  Date      Date Sold  Sales Price ($) Cost Basis ($)

                                      Purchased

4,000 shares Green Co. 06/04/07 08/05/19       12,000              3,000

500 shares Gold Co.        02/12/17 09/05/19      54,000            62,000

5,000 shares Blue Co.   02/04/08  10/08/19       18,000            22,000

100 shares Orange Co.     11/15/18   07/12/19       19,000            18,000

Total                                                                   $103,000       $105,000

Net capital loss:

Long-term capital loss = $3,000

Short-term capital gain = $1,000

Net capital loss =            $2,000 ($3,000 - $1,000)

8 0
2 years ago
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