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Question - Inventory error. The company counted inventory incorrectly as of 12/31/08. As a result, ending inventory for the year ended 12/31/08 was overstated by $4,000.
Accrued wages errors. Clarence forgot to accrue $3,400 of wages payable as of 12/31/07. All of these wages were paid and expensed early in fiscal 2008.
Accounting errors in this problem include inventory and accrued wages. Ignore tax effects in your answers.
a. What is the effect of the accounting errors on net income for fiscal 2008 (year ended 12/31/08)? Provide a dollar amount and indicate overstate, understate, or no effect.
b. What is the effect of the accounting errors on total assets as of 12/31/08? Provide a dollar amount and indicate overstate, understate, or no effect.
Your final statistics assignment is to write a short research paper that uses multivariate regression to analyze a research topic of interest to you, preferably one related to your capstone research project.
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Provide examples of manufacturers in your geographic area and explain which system would be best for them
Analytical procedure are substantive procedures that may be used to provide evidence about specific accounts and classes of transactions.
josh sold a piece of business equipment that had an adjusted basis to him of 50000. in return for the equipment josh
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during 2011 stockton inc. reported net income of 4000 declared and paid a cash dividend of 2000 and issued common stock
presented below is information taken from a bond investmentamortization schedule with related fair values provided.
Powell Dentistry Services operates in a large metropolitan area. Currently Powell has its own dental laboratory to produce porcelain and gold crowns.
On December 15, 2013, Rigsby Sales Co. sold a tract of land that cost $3,700,000 for $5,000,000. Rigsby appropriately uses the installment sale method of accounting for this transaction.
Water works Inc has a current ratio of 1.33, current liabilities of 540,000 and inventory of 400,000. What is water works quick ratio
1.the basis for classifying assets as current or noncurrent is conversion to cash withina.the accounting cycle or one
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