Business, 18.11.2020 17:10, rafaelys6354
At the end of 2010, a $5,000 understatement was discovered in the amount of the 2010 ending inventory as reflected in the perpetual inventory records. What were the 2010 effects of the $5,000 inventory error (before correction)?
a. Assets were understated by $5,000 and pretax income was understated by $5,000.
b. Assets were understated by $5,000 and pretax income was overstated by $5,000.
c. Cost of goods sold was understated by $5,000 and pretax income was understated by $5,000.
d. Cost of goods sold was overstated by $5,000 and pretax income was overstated by $5,000.
Answers: 3
Business, 21.06.2019 20:20, bisolad64
Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respectively. income reported on the income statement for the year was $180,000. exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
Answers: 2
Business, 22.06.2019 02:20, fdasbiad
Larissa has also provided the following information. during the year, the company raised $36 million in new long-term debt and retired $20.52 million in long-term debt. the company also sold $22 million in new stock and repurchased $32.4 million. the company purchased $54 million in fixed assets, and sold $6,107,400 in fixed assets. larissa has asked dan to prepare the financial statement of cash flows and the accounting statement of cash flows. she has also asked you to answer the following questions: 1. how would you describe east coast yachts' cash flows? 2. which cash flows statement more accurately describes the cash flows at the company? 3. in light of your previous answers, comment on larissa's expansion plans.
Answers: 2
Business, 22.06.2019 05:30, adazeb2003
Find a company that has followed a strong strategic direction- state that generic strategy and the back-up points to support your position.
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