Reference no: EM132448283
Question - The reported net incomes for the first 2 years of Whispering Products, Inc., were as follows:
2017, $160,800;
2018, $175,800.
Early in 2019, the following errors were discovered.
1. Depreciation of equipment for 2017 was overstated $17,600.
2. Depreciation of equipment for 2018 was understated $37,400.
3. December 31, 2017, inventory was understated $45,000.
4. December 31, 2018, inventory was overstated $16,400.
Required - Prepare the correcting entry necessary when these errors are discovered. Assume that the books are closed. (Ignore income tax considerations.)
|
Correlation between attendance and team batting average
: Determine the correlation between attendance and team batting average and be-tween attendance and team ERA.Which is stronger?
|
|
Discuss the influence of political in subsequent strife
: Discuss the influence of political, spiritual, or cultural aspects of the movement as well as any subsequent strife (warfare and other forms of violence)
|
|
Determine the ending balance that Sage Co should report
: On January 1, 2017, Sage Co. purchased 23,000 shares. Determine the ending balance that Sage Co. should report as its investment in John Corp. at end of 2018
|
|
What is meant by ethical auditing
: What is meant by ethical auditing?How could ethical auditing resolve this situation? explain other factors that the learner should consider inrecommendation
|
|
Prepare correcting entry necessary when errors discovered
: Depreciation of equipment for 2017 was overstated $17,600. Prepare the correcting entry necessary when these errors are discovered
|
|
Explain what Todd should consider
: Explain what Todd should consider if he were to revise the company's ethical code of conduct.explain other factors that the learner should consider
|
|
Prepare general journal entries that made at December
: Martinez Co. purchased a equipment on January 1, 2015, for $566,500. Prepare the general journal entries that should be made at December
|
|
Prepare trial balance
: PREPARE JOURNAL ENTRIES AND POST ALL ENTRIES TO LEDGER ,PREPARE STATEMENT OF RETAINED EARNINGS,PREPARE BALANCE SHEET
|
|
What are the counterbalancing errors
: What are the differences between counterbalancing and non-counterbalancing errors? How are each handled? Does it matter if the books are closed
|