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
olga_2 [115]
3 years ago
6

2020 $254000 overstated $200000 overstated 2021 121000 understated 79500 understated Assume that purchases were recorded correct

ly and that no correcting entries were made at December 31, 2020, or at December 31, 2021. Ignoring income taxes, by how much should Sheridan's retained earnings be retroactively adjusted at January 1, 2022
Business
1 answer:
Dafna1 [17]3 years ago
8 0

Answer:

$241,500 (Understated)

Explanation:

Calculation for how much should Sheridan's retained earnings be retroactively adjusted at January 1, 2022

Retained earnings = $121,000 (Understated) + $200,000 (Understated) - $79,500 (Overstated)

Retained earnings = $241,500 (Understated)

Therefore by how much should Sheridan's retained earnings be retroactively adjusted at January 1, 2022 will be $241,500 (Understated)

You might be interested in
Goal displacement, satisficing, and groupthink are:
Grace [21]

Goal displacement, satisficing, and groupthink are the<u> advantages of </u><u>group decision-making.</u>

Group decision-making simply means the process where several individuals act collectively in order to analyze a particular problem.

During group decision-making, several ideas are considered and the best approach or idea is chosen in order to achieve a particular goal.

Some of the advantages of the <em>group decision-making</em> include goal <em>displacement, satisficing</em>, and groupthink.

Read related link on:

brainly.com/question/25067788

6 0
2 years ago
If there are too few respondents in the lowest income category, this category may be combined or merged with the next lowest cat
Nostrana [21]

Answer: E) Recoding

Explanation:

Recoding refers to the changing of a variable to better suit the needs for which the variable is being collected.

The variable's parameters can be redefined using recoding to either include more information or less so that the result can be more reflective of the situation on ground.

In mixing the lowest income category with the next lowest, recoding would have occurred.

5 0
3 years ago
Roak Company and Clay Company are similar firms that operate in the same industry. Clay began operations 2 years ago and Roak st
Paladinen [302]

Answer:

<h3>Required:</h3>

1. (a) Which company has the better profit margin? (b) Which has the better asset turnover? (c) Which has thebetter return on assets?

2. Which company has the better rate Of growth in sales?

3. (a) Did Roak successfully use financial leverage in the current year? (b) Did Clay?

4 0
3 years ago
EASY WILL GIVE BRAINLIEST!
Alex787 [66]
Answer: True
A chronological resume lists your work history in order of of date.
4 0
2 years ago
Read 2 more answers
At the year-end, Encore Company has a product for inventory that was purchased at a cost of $23. The product's expected selling
allsm [11]

Answer:

$21

Explanation:

As we know that

The inventory should be recorded in the books of accounts by applying the lower value of cost or net realizable value

In the given case

The cost is $23

And, the net realizable value is

= Expected selling price - selling cost

= $36 - $15

= $21

So by comparing the cost and net realizable value, the net realizable value contains the lower value i.e $21 and the same is recorded on the balance sheet for inventory

6 0
3 years ago
Other questions:
  • 5. Suppose your demand for a good is inelastic. Which word would best describe this good? normal a. inferior d. replaceable b. n
    9·1 answer
  • The condominium at the beach that you want to buy costs $249,500. You plan to make a cash down payment of 20 percent and finance
    7·1 answer
  • Which of the following is a set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a
    13·1 answer
  • The incredible shrinking​ $50 bill in 1957 was worth​ $50, but in 2007 it is worth only ​$. a. What was the compounded average a
    7·1 answer
  • The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment, of $450. The bad debts are estim
    5·1 answer
  • When electra decided to produce its "pedal-assist" motor bike it had to adhere to speed regulations. the company found out, howe
    7·1 answer
  • How many courses do you need to finish a major?
    14·1 answer
  • The marginal tax rate for a lump-sum tax a. is always positive. b. is zero. c. can take on any value but must be greater than th
    9·1 answer
  • Which of the following is generally regarded by academics as being the best single method for evaluating capital budgeting proje
    14·1 answer
  • The activities that must be completed prior to the start of an activity in question are called the immediate ________ of the act
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!