Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Presented below are the comparative income statements for Watson Industries for the years 2022 and 2023, prior to the information provided in the bulleted list below. Assume no taxes exist.
2023
2022
Sales
$660,000
$600,000
Cost of Sales
430,000
390,000
Gross Profit
230,000
210,000
Expenses
180,000
170,000
Net Income
$50,000
$40,000
Retained Earnings, Jan. 1
$117,000
$89,000
50,000
40,000
Dividends
(15,000)
(12,000)
Retained Earnings, Dec. 31
$152,000
In 2024, the company discovered that assets costing $150,000 purchased at the beginning of 2022 had been depreciated straight-line as though their useful life was three years, when it was known the life was actually five years.
In 2023, the company discovered that the ending inventory for 2022 was understated by $13,000.
Prepaid expenses of $4,000 were omitted in 2022.
In the revised financial statements, determine the 2022 Net Income?
a. $57,000
b. $77,000
c. $29,000
d. $69,000
e. $49,000
A corporation has $50,000 shares of $25 par value stock stock outstanding that has a value of $120. If the corporation issues a 5-for-1 stock split, the par value of the stock will be: a. $5 b. $60 c. unchanged d. $24
Across the globe, the significance of sales promotion in the marketing mix of the Fast Moving consumer Goods (FMCG)' industry has been increasing day-by-day.
What are indicators of bond market behavior, and how are they different from stock market indicators? Name three sources of bond yield data.
Calculate the total direct manufacturing labor mix and yield variances. How do these numbers relate to the total direct manufacturing labor efficiency variance?
Dutton is admitted to the partnership by purchasing one half of K. Carter's interest for $20,880 paid to him personally. Journalize admission of Dutton on June
Bradley is married, files a joint tax return, claims both children as dependents, Determine Bradley's available education tax credit for 2010
What is the dollar amount of McDonald's stock selling for? Determine the date on which you searched for this number
Develop a transportation plan that addresses how to move goods to the chosen country. Suggest recommendations for implementing the transportation plan
you are part of a project management team evaluating accounting software packages that could be used by samps i.e. the
Describe the link between the balance sheet and the statement of owner's equity.
Pacific Jewel Airlines (Hong Kong). Pacific Jewel Airlines is a U.S.-based air freight firm with a wholly owned subsidiary in Hong Kong.
x ltd. purchased assets worth 220000 and also took over the liabilitescreditors of y ltd. for a purchase consideration
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd