Answer: The correct answer is "E. Cost of goods sold to be overstated and net income to be understated.".
Explanation: The understatement of the ending inventory balance causes:
<u>Cost of goods sold to be overstated and net income to be understated.</u>
Answer:
$12
Explanation:
Equilibrium price is price at the point where quantity supplied equals the quantity demanded.
Please check the attached image for a table showing how equilibrium was found
Answer:
His loan payment each quarter is nearest to $4,705.10.
Explanation:
Using a Financial Calculator enter the following data and find PMT, the loan payment each quarter
Pv = $70,000
n = 4 × 5 = 20
r = 12%
P/yr = 4
Fv = $0
Pmt = ? - $4,705.10
Thus PMT, the loan payment each quarter will be $4,705.10.
Answer:
A) Price 7,080 U
B) Quantity 4,630.5 U
C) Total 11.710,5 U
Explanation:
DIRECT MATERIALS VARIANCES
std cost $3.45
actual cost $3.65
quantity 35,400
difference $(0.20)
price variance $(7,080.00)
std quantity 36110.00
actual quantity 35400.00
std cost $3.45
difference 710.00
quantity variance $2,449.50
Total Variance: 2,449.5 - 7,080 = -4.630,5
An owner who is active in managing the company, and who has unlimited liability for claims against the firm is a "general" partner.
A general partnership, the essential type of association under common law is a course of action by which at least two people consent to partake in all advantages, benefits and monetary and legitimate liabilities of a business. Such partners have boundless liability, which implies their own assets are at risk to the partnership's commitments.
