Answer:
a. $103,400
Explanation:
As we know that
Cost of goods sold = Beginning inventory + purchases - ending inventory
And,
Gross profit = Sales revenue - cost of goods sold
Since in the question it is given that
The ending inventory and beginning inventory had been overstated by $11,200 and $6,600 respectively
Since overstatement in the initial inventory raises the cost of the goods sold and decreases by that amount the gross profit & net income
And, overstatement in ending inventory reduced cost of goods sold and raised gross profit & net income by that amount.
So for overstated ending inventory the amount should be deducted and for overstated beginning inventory the condition would be reverse
So, the correct amount is
= incorrect pretax net income + overstatement in beginning inventory - overstatement in ending inventory
= $108,000 + $6,600 - $11,200
= $103,400
Explanation:
On April 27, a blast of light from a dying star in a distant galaxy became the focus of astronomers around the world. The explosion, known as a gamma-ray burst and designated GRB 130427A, tops the charts as one of the brightest ever seen.
The loan lender is likely to ask you to write a check is: Payday advance company.
<h3>What is loan lender?</h3>
A loan lender is a person or a company that give out loan or lender out money to people.
A Payday advance loans company is a company that gives out loan to borrowers or lender in which the borrower are expected to payback the amount loan to them after receiving their paycheck or salary.
Payday advance loans company tend to given out fixed interest rate to their borrower.
Inconclusion the loan lender is likely to ask you to write a check is: Payday advance company.
Learn more about payday advance company here:brainly.com/question/25239160
Answer:
Take your gross sales revenue for the accounting period and subtract discounts, allowances and returns. This gives you net sales. Subtract the cost of goods sold from net sales and you get gross profit. In some cases, this might be a gross loss
