subject
Business, 29.02.2020 06:06 lindamillscotton90

Merchandise inventory at the end of the year was inadvertently overstated. Which of the following statements correctly states the effect of the error on net income, assets, and owner's equity? 1. net income is overstated, assets are overstated, owner's equity is understated 2. net income is overstated, assets are overstated, owner's equity is overstated 3. net income is understated, assets are understated, owner's equity is understated 4. net income is understated, assets are understated, owner's equity is overstated

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 23:30, zoelynn8386
On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. ryan uses the periodic inventory system and the net method of accounting for sales. on september 14, johnson returns some of the non-defective merchandise, which is restored to inventory. the selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. the entry or entries that ryan must make on september 14 is (are): multiple choice sales returns and allowances 490 accounts receivable 490 merchandise inventory 350 cost of goods sold 350 sales returns and allowances 490 accounts receivable 490 sales returns and allowances 500 accounts receivable 500 sales returns and allowances 490 accounts receivable 490 merchandise inventory 343 cost of goods sold 343 sales returns and allowances 350 accounts receivable 350
Answers: 1
image
Business, 22.06.2019 19:10, saabrrinnaaa
Do it! review 16-3 the assembly department for right pens has the following production data for the current month. beginning work in process units transferred out ending work in process 0 22,500 16,000 materials are entered at the beginning of the process. the ending work in process units are 70% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs. materials conversion costs the equivalent units of production
Answers: 2
image
Business, 22.06.2019 19:30, kenz2797
Nextdoor is an instant messaging application for smartphones. new smartphone users find it easier to connect with friends and relatives through this mobile app when compared to other similar instant messaging applications. hence, it has the largest user base in the industry. thus, nextdoor app's value has increased primarily due to itsa. learning curve effects. b. economies of scale. c. economies of scope. d. network effects.
Answers: 2
image
Business, 22.06.2019 22:10, jpimentel2021
What is private equity investing? who participates in it and why? how is palamon positioned in the industry? how does private equity investing compare with public market investing? what are the similarities and differences between the two? why is palamon interested in teamsystem? does it fit with palamon’s investment strategy? how much is 51% of teamsystem’s common equity worth? use both a discounted cash flow and a multiple-based valuation to justify your recommendation. what complexities do cross-border deals introduce? what are the specific risks of this deal? what should louis elson recommend to his partners? is it a go or not? if it is a go, what nonprice terms are important? if it’s not a go, what counterproposal would you make?
Answers: 1
You know the right answer?
Merchandise inventory at the end of the year was inadvertently overstated. Which of the following st...

Questions in other subjects:

Konu
English, 24.07.2019 09:00