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erica [24]
2 years ago
9

Kilian Company's inventory balance at the end of the current year does not include $10,000 of inventory that was stored in a sep

arate warehouse and accidentally excluded from the physical count. If the error is not discovered, the effect of this error on financial statements in the following year will be_________
Business
1 answer:
Flauer [41]2 years ago
8 0

Answer:

underestimated inventory

net income decrease

higher storage expenses

Explanation:

decrease in net income since it could not be sold

higher expenses for storage to maintain inventory

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Why is management contracting a safe way to get involved in global business?
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To increase profits while taking low to no risk as to their current funds<span />
4 0
3 years ago
Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the ma
oksano4ka [1.4K]

Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the market to be higher than they would otherwise be. This results in consumers buying less

<h3>What are barriers to trade?</h3>

Barriers to trade refers as certain hurdles which restrict an individual or organisation to practice trade activity effectively. These barriers can be regulatory barriers, physical barriers and so on.

These trade barriers are launched to support small-scale business and introducing jobs in the industries to prevent unemployment.

These trade barriers results in high prices in the market due to reduce amount output supplied by foreign companies. This will result in less buying behaviour by consumer.

Learn more about barriers to trade, here:

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7 0
1 year ago
Consider the following information: ending inventory, $ 24,000 ; sales, $ 250,000 ; beginning inventory, $ 30,000 ; selling and
Volgvan

96,000 is the cost of goods sold.

Beginning inventory,       $30,000;

Add: Purchases,              $90,000.

Less: Ending inventory  $24,000;

Cost of Goods Sold $96,000

Cost of Goods Sold is the number of direct materials, direct labor, and manufacturing overhead charged to the units sold during the period. Presented as a deduction from net sales to obtain gross margin for the period. The cost of goods sold is the total amount paid by a company for expenses directly related to the sale of its products. Depending on the business, this may include direct labor associated with manufacturing or selling products, raw materials, packaging, and merchandise purchased for resale purposes.

Learn more about the Cost of Goods Sold at

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3 0
1 year ago
Dogz reports total revenue of $47,561, cost of goods sold of $32,856 and net receivables of $19,595. Their property, plant and e
natima [27]

Answer: ART

Explanation:

Account receivable turnover(ART) = Sales revenue/Average Account Receivable

= $47,561/$19,595

= 2.427

Inventory Turnover(INVT) = Cost of sales/Inventory

= $32856/$16240

= 2.023

Property Plant and Equipment Turnover(PPET) = Sales/Property Plant and Equipment

= $47561/$19813

= 2.400

Therefore, the ratio that is highest is the account receivable turnover

8 0
2 years ago
When Allison Logue found out her children were allergic to corn, she started looking for sweets and starches that were corn-free
sladkih [1.3K]

Answer:

micropreneur

Explanation:

Based on the information provided within the question it is apparent that Allison Logue is an example of a micropreneur. This term refers to any entrepreneur that decides to create and manage a very small business as well as undertaking all the benefits and risk associated with it. These small businesses allow the owner to follow a very strict design and also have a balanced life outside business as it does not require as much time investment as bigger business'.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0
3 years ago
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