Overstatement of the ending inventory

Assignment Help Accounting Basics
Reference no: EM13142228

Will Company's independent CPA discovered that the ending inventory for 20B had been overstated by the company $2,000. Before the correction, what was the effect in the 20B income statement because of the overstatement of the ending inventory

Reference no: EM13142228

Questions Cloud

Compute current break-even sales : Compute the current break-even sales (units). Compute the anticipated break-even sales in units, assuming that the unit selling price is increased and all costs remain constant.
Social identity theories : How can understanding social identity theories assist you in your work place? Please give examples.
What is the percent of atoms remaining : if the half life of a certain radioactive element is 1,250 years what is the percent of atoms remaining after 7,500 years is ?
How are foreign exchange gains and losses reported : How are foreign exchange gains and losses reported? Why do companies hedge? Why would some companies choose not to hedge?
Overstatement of the ending inventory : Will Company's independent CPA discovered that the ending inventory for 20B had been overstated by the company $2,000. Before the correction, what was the effect in the 20B income statement because of the overstatement of the ending inventory
Machine configuration problem : Describe and discuss some of the issues you had while configuring your machine and environment to meet the requirements of LP1. Share your success as well as failures and feel free to use this thread to help each other out.
Are there disclosure requirements in the united states : Are there disclosure requirements in the United States that govern the reporting practices of foreign currency transactions? Provide example
Find minimum score would need to receive award : Standard deviation of 100. The top 3% of students receive $500. What is the minimum score you would need to receive this award?
Discuss propriety of including in the capitalized cost : In general, what costs should be capitalized for self-constructed equipment? Discuss propriety of including in the capitalized cost of self-constructed assets:

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd