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3 years ago

Freeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

Business

2 answers:

USPshnik [31]3 years ago

4 0

Thanksssssssssssjsksksksksksks

ivann1987 [24]3 years ago

3 0

Answer:

thank youuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu

Explanation:

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During the taking of its physical inventory on August 31, 2019, Kate Interiors Company incorrectly counted its inventory as $366

soldier1979 [14.2K]

Answer:

Balance sheet

Inventory - Understatement by $11,600

Owners equity - Understatement by $11,600

Income statement

Cost of goods sold - Overstatement by $11,600

Net income - Understatement by $11,600

Explanation:

The movement in an inventory account which is the difference between the opening and ending balances is a function of the purchases and the sales during the period.

This is captured in the equation below

Opening balance + purchases - cost of goods sold = ending balance

Hence an understatement of the ending balance would result in an overstatement of the cost of goods sold thus an understatement of the net income (and owner's equity).

The understatement in closing inventory balance is

= $378,500 - $366,900

= $11,600.

3 0

3 years ago

Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term

nataly862011 [7]

Explanation:

April 16: Dr Short-term investment (6000*24) 144000

Cr Cash 144000

(To record purchase of shares of Gem co)

July-7: Dr Short-term investment (3000*55) 165000

Cr Cash 165000

(To record purchase of shares of pepsico)

July-20. Dr Short-term investment (1500*15) 22500

Cr Cash 22500

(To record purchase of shares of Xerox)

Aug-15. Dr Cash (6000*.95) 5700

Cr Dividend income 5700

(To record cash dividend of Gemco)

Aug-28. Dr Cash (3000*30.75 ) 92250

Cr Short-term investment (3000*24) 72000

Cr Gain on sale of investment(3000 * 6.75 N#1) 20250

(To record sale of shares of Gemco ).

Oct-1. Dr Cash (1.60 *3000) 4800

Cr Dividend income 4800

(To record cash dividend of pesico)

Dec-15. Dr Cash ( 6000*1.60) 9600

Cr Dividend income 9600

(To record cash dividend or remaining shares of gemco)

Dec-31. Dr Cash (3000*1.00) 3000

Cr Dividend income 3000

(To record cash dividend )

[N#1: 24-30.75= 6.75 *3000 = 20250]

6 0

2 years ago

Onboarding practices accomplish which of the following? A. gives new employees time to determine where they want to go on vacati

Sedaia [141]

Answer:

Did you try C? just wanna know

3 0

3 years ago

In the Basic Solow Model without exogenous growth, if the population, and therefore the labor supply, doubles:_______

otez555 [7]

Answer:

In the Basic Solow Model without exogenous growth, if the population, and therefore the labor supply, doubles <u>steady state output per worker will be unchanged.</u>

Explanation:

According to the given scenario options A, B and C are ruled out. Hence, the answer to the above question is option D. Steady state output per worker will be unchanged.

Hope this helps.

3 0

2 years ago

Based on Bluto's conduct, Cass reasonably believes that Dee has the authority to act on Bluto's behalf even though Dee does not

VLD [36.1K]

Answer:

c.may be estopped from denying that Dee had authority.

Explanation:

Bluto made a mistake by allowing Dee to have his authority and also act on his behalf. Furthermore, Dee took a payment from the client and ran away with the money without performing any duty. This shows that Dee is not sincere and has committed fraud. In the absence of Dee, Bluto is liability to any criminal act conducted by Dee.

5 0

2 years ago