What net income will be for satellite city

Assignment Help Accounting Basics

Reference no: EM132703523

Two separate errors affected Satellite City in 2019.

The beginning inventory was understated by $28,000 and the ending inventory was understated by $43,000.

Question 1: Net income in 2019 will be? _______.

A. understated by $71,000.

B. understated by $43,000.

C. overstated by $15,000.

D. understated by $15,000.

Reference no: EM132703523

Questions Cloud

Is cannally and kennedy acting in an ethical manner : Tonya Latirno is a staff accountant for Cannally and Kennedy, Is Cannally and Kennedy acting in an ethical manner by eliminating the bonus? Explain your answer.

Identify three constraints placed on law enforcement. : Identify three constraints placed on law enforcement and thoroughly examine how these constraints affect how law enforcement personnel conduct their operations.

What estimated ending inventory at cost using retail method : Determine What is the estimated ending inventory at cost, using the retail method? Ending inventory at selling price (retail): $53,500

What kind of sources you will most likely need to answer : In 250 words (one page), give the precise topic of your term paper. The proposal must contain a specific research question, i.e., the question you will aim.

What net income will be for satellite city : What Net income in 2019 will be? The beginning inventory was understated by $28,000 and the ending inventory was understated by $43,000.

Find the cost of goods available for sale is equal to the : Find the cost of goods available for sale is equal to the? cost of goods sold plus the ending inventory. / ending inventory plus the sales revenues

Analyze the impact of intellectual property : Your U.S. based company is a new start-up and they sell packaged consumer goods from dish detergent to fabric softener to air fresheners. They want to become.

What recommendations would you offer the ceo : You work for a U.S. based company that leaves a large carbon footprint because it relies heavily on paper, ink cartridges, and plastic. While there seem to be.

How do Determine what is gross margin : Determine what is gross margin? Beginning inventory 150,000. Sales revenue $950,000. Ending inventory 230,000. Purchases 720,000

User Account

All Pages