Business, 21.11.2019 03:31 labarbie8575
During 2018, wmc corporation discovered that its ending inventories reported on its financial statements were misstated by the following amounts: 2016 understated by $ 140,000 2017 overstated by 190,000 wmc uses the periodic inventory system and the fifo cost method. required: 1-a. determine the effect of 2016 errors on retained earnings at january 1, 2018, before any adjustments. (ignore income taxes.) 1-b. determine the effect of 2017 errors on retained earnings at january 1, 2018, before any adjustments. (ignore income taxes.) 2. prepare a journal entry to correct the error made in 2017.
Answers: 2
Another question on Business
Business, 22.06.2019 16:50
Andrea cujoli is a currency speculator who enjoys "betting" on changes in the foreign currency exchange market. currently the spot price for the japanese yen is ¥129.87/$ and the 6-month forward rate is ¥128.53/$. andrea would earn a higher rate of return by buying yen and a forward contract than if she had invested her money in 6-month us treasury securities at an annual rate of 2.50%. true/false?
Answers: 2
Business, 22.06.2019 19:40
On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?
Answers: 1
Business, 22.06.2019 20:20
As you have noticed, the demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. also, the current buyers of flip phones are mainly categorized under laggards. which of the following stages of the industry life cycle is the flip phone industry in currently? a. growth stage b. maturity stage c. decline stage d. commercialization stage
Answers: 2
Business, 22.06.2019 22:50
What is one of the advantages of getting a government-sponsored mortgage instead of a conventional mortgage
Answers: 1
You know the right answer?
During 2018, wmc corporation discovered that its ending inventories reported on its financial statem...
Questions
Mathematics, 15.10.2019 13:50
English, 15.10.2019 13:50
Mathematics, 15.10.2019 13:50
Mathematics, 15.10.2019 13:50
Mathematics, 15.10.2019 13:50
Mathematics, 15.10.2019 13:50
Biology, 15.10.2019 13:50
Computers and Technology, 15.10.2019 13:50
Health, 15.10.2019 13:50
