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docker41 [41]
2 years ago
11

Terps Company reported total assets of $2,400,000 and net income of $320,000 for the current year. The company determined that i

nventory was overstated by $24,000 at the beginning of the year (this was not corrected). What is the corrected amount for total assets and net income for the year
Business
1 answer:
Yuri [45]2 years ago
7 0

Answer:

$2,400,000 and $344,000

Explanation:

Given the above information,

the corrected amount for total assets at the end of the year would still remain $2,400,000. Reason being that the overstatement of inventory has no effect whatsoever on the asset of the company.

Also, the corrected net income for the year would be ;

= Net income for the year + Over stated inventory

= $320,000 + $24,000

= $344,000

Therefore,

The corrected amount for total assets and net income for the year are $2,400,000 and $344,000 respectively

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From the supply chain perspective, I think 7dream concept will be more successful in Japan than in USA. The reason being the urban customer of Japanese market and convenient access  for them to store and pick up. For place like USA, where population is sparsely distributed to large area, this supply chain concept will not be very effective. For Suburban population, this model will be very inconvenience as they have to drive a long way to store to collect their deliveries, which they could have easily got home delivered via other such services. 

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3 years ago
Rural or countryside destinations are those in mare remote + less dently populated Example: Fjords of Norway.
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Rural or nation-state locations are the ones in mare far off + much less densely populated via evaluation Very faraway Rural areas include three percent of the populace, however cowl nearly 1/2 of the land place.

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1 year ago
Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receiv
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Answer:

7.8%

Explanation:

The formula and the computation of the return on assets is shown below:

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where,

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2 years ago
Which of the following changes would increase structural unemployment? Select one:
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Answer:

Option D

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Option D

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A firm produces goods for which substitute goods are produced in all countries. Appreciation of the firm’s local currency should
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