Reference no: EM133162649
Question - Derek Co. reported profits of P900,000 and P1,150,000 in 2022 and 2023, respectively. In 2024, the following prior period errors were discovered:
Prepaid supplies in 2022 were understated by P125,000.
Accrued salaries payable in 2022 were understated by P240,000.
Repairs and maintenance expenses in 2022 amounting to P750,000 were erroneously capitalized and being depreciated over a period of 5 years.
The unadjusted balances of retained earnings are P3,700,000 and P6,000,000 as of December 31, 2022 and 2023, respectively.
How much is the correct profit in 2022?
How much is the correct retained earnings in 2023?
|
Conduct a background check on the candidate
: 1. What are the reasons for and against conducting a reference check in this situation? Should they conduct a reference check?
|
|
Company service marketing strategy
: How would to rate company's service marketing strategy: bad, good, or fabulous, and why.
|
|
Key component in the human resource department
: Why is Human Resources Performance Evaluation and Planning a key component in the Human Resource department?
|
|
Personalize their interfaces with individual customers
: Millions of people visit the Web every day. Many companies have found ways to personalize their interfaces with individual customers.
|
|
How much is the correct retained earnings
: The unadjusted balances of retained earnings are P3,700,000 and P6,000,000 as of December 31, 2022 and 2023, How much is the correct retained earnings
|
|
How would you go about strengthening
: Introducing new benefits but rather strengthening the ones that the organization already has, the employee relations methods that I wish to integrate would be l
|
|
Canadian union of delivery workers
: After work one day, four drivers of the ABC Courier Company met for coffee and, in the course of their conversation, decide that something had to be done about
|
|
Leadership in a diverse and multicultural environment
: 1. In Chapter 1 (Sorrells & Sekimoto), Nakagawa explains how "productive shame" can motivate us to reframe and reposition our agency and to take action, challen
|
|
How much will that be per month
: You've lend money to your friend in the amount of P500,000.00, to be paid in 5 years at 15% interest. How much will that be per month
|