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Question - If the beginning merchandise inventory was understated $8,000 in 2014, purchases were overstated $6,000 in 2014 and the ending merchandise inventory was overstated $10,000 in 2015. Assume that no corrections were made during 2014 or 2015. All other items in the income statement were correct.
1) What affect does this have on the cost of goods sold and net income for 2014 in dollar amounts and whether it's understated or overstated?
2) What affect does this have on net income and retained earnings in dollar amounts and whether it's understated or overstated for 2015?
Each of the following scenarios is independent. How much should be set aside today, so that it will grow to $30,000 in 15 years? The discount rate is 9%
When the firm repays the original $7,000,000 loan this year, what will be the effective purchasing power of the $7,000,000
morgado inc. has provided the following data to be used in evaluating a proposed investment projectinitial investment
Constanza has asked you to complete an analysis of profit margins earned on a number of recent projects. Unfortunately, your predecessor on this project was abruptly transferred, leaving you with only sketchy information on the firm's pricing prac..
If XYZ decides to pay off the entire mortgage in March, 2004 after just two monthly payments of $2,426.55 have been made, what amount of principal would be due?
Write a summary of asset treatment in a business. Examine the aspects of acquisition, depreciation, revising periodic depreciation, expenditures during useful life, and the three different means of disposal.
NiSource Preferred B (NYSE: NI-B) is a fixed-rate perpetual preferred stock paying a $3.88 annual dividend. If the required rate of return is 7.88 percent, what is the value of one share? If the price of this preferred stock were $46.00, what woul..
Russ Feingold owns a fifty percent interest in the Wisconsin Partnership. What is Feingold's ordinary income or loss
1. determine the following.a. predetermine overhead rate for year 2011b. total overhead cost applied to each of the six
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Their adjusted gross income for 2019 is $415,300. What is Russ and Linda's total child and other dependent credit for 2019
Cunningham Industries reported actual sales of $2,000,000, and fixed costs of $540,000. Compute the margin of safety in dollars
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