Business, 24.12.2019 04:31 msladycie8831

Accrued salaries payable of $51,000 were not recorded at december 31, 2014. office supplies on hand of $29,000 at december 31, 2015 were erroneously treated as expense instead of supplies inventory. neither of these errors was discovered nor corrected. the effect of these two errors would cause: a. 2015 net income to be understated $80,000 and december 31, 2015 retained earnings to be understated $29,000.b. 2014 net income and december 31, 2014 retained earnings to be understated $51,000 each. c. 2014 net income to be overstated $22,000 and 2015 net income to be understated $29,000.d. 2015 net income and december 31, 2015 retained earnings to be understated $29,000 each.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 10:30, natajaeecarr

Jack manufacturing company had beginning work in process inventory of $8,000. during the period, jack transferred $34,000 of raw materials to work in process. labor costs amounted to $41,000 and overhead amounted to $36,000. if the ending balance in work in process inventory was $12,000, what was the amount transferred to finished goods inventory?

Answers: 2

continue

Business, 22.06.2019 19:30, dominickstrickland

Kirnon clinic uses client-visits as its measure of activity. during july, the clinic budgeted for 3,250 client-visits, but its actual level of activity was 3,160 client-visits. the clinic has provided the following data concerning the formulas to be used in its budgeting: fixed element per month variable element per client-visitrevenue - $ 39.10personnel expenses $ 35,100 $ 10.30medical supplies 1,100 7.10occupancy expenses 8,100 1.10administrative expenses 5,100 0.20total expenses $ 49,400 $ 18.70the activity variance for net operating income in july would be closest to:

Answers: 1

continue

Business, 22.06.2019 20:50, fathimasaynas2975

Lead time for one of your fastest-moving products is 20 days. demand during this period averages 90 units per day. a) what would be an appropriate reorder point? ) how does your answer change if demand during lead time doubles? ) how does your answer change if demand during lead time drops in half?

Answers: 1

continue

Business, 22.06.2019 21:00, mattsucre1823

Suppose either computers or televisions can be assembled with the following labor inputs: units produced 1 2 3 4 5 6 7 8 9 10 total labor used 3 7 12 18 25 33 42 54 70 90 (a) draw the production possibilities curve for an economy with 54 units of labor. label it p54. (b) what is the opportunity cost of the eighth computer? (c) suppose immigration brings in 36 more workers. redraw the production possibilities curve to reflect this added labor. label the new curve p90.

Answers: 2

continue

You know the right answer?

Accrued salaries payable of $51,000 were not recorded at december 31, 2014. office supplies on hand...