Business, 08.04.2021 22:00 juanitarodrigue
Cake Mart understated its ending inventory in the current year by $5,000. The company incorrectly reported net income of $100,000. Determine the effect of the error on the financial statements. Multiple choice question. Cost of goods sold will be too high by $5,000, and this caused net income to be understated by $5,000. Total assets on the balance sheet will be too high by $5,000. Cost of goods sold will be too high by $5,000, and this caused net income to be overstated by $5,000. Cost of goods sold was too low by $5,000, which caused net income to be overstated.
Answers: 2
Business, 22.06.2019 07:00, ronnie7898
Amarket that consists of all possible consumers regardless of their specific needs or wants is a
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Business, 22.06.2019 14:40, annahm3173
In the fall of 2008, aig, the largest insurance company in the world at the time, was at risk of defaulting due to the severity of the global financial crisis. as a result, the u. s. government stepped in to support aig with large capital injections and an ownership stake. how would this affect, if at all, the yield and risk premium on aig corporate debt?
Answers: 3
Business, 22.06.2019 17:30, chrisd2432
Alinguist had a gross income of 53,350 last year. if 17.9% of his income got witheld for federal income tax, how much of the linguist's pay got witheld for federal income tax last year?
Answers: 2
Cake Mart understated its ending inventory in the current year by $5,000. The company incorrectly re...
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