West Corporation's Year 1 ending inventory was overstated by $20,000; however, ending inventory for Year 2 was correct. Which of the following statements is correct?
A. Cost of goods sold for Year 1 is overstated.
B. Cost of goods sold for Year 2 is overstated.
C. Retained earnings at the end of Year 2 is overstated.
D. Net income for Year 1 is understated.
Answer: B
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Spackel Corporation recorded the following events last year:Issuance of shares of the company's own common stock$ 380,000Purchase of long-term investment$ 40,000Dividends paid to the company's own shareholders$ 18,000Cash paid to suppliers for inventory purchases$ 12,000Repayment of principal on the company's own bonds$ 370,000Interest paid to lenders$ 6,000Collection by Spackel of a loan made to another company$ 110,000Purchase of equipment$ 350,000On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.Based solely on the information above, the net cash provided by (used in) investing activities on the statement of cash flows would be:
A. $(280,000) B. $(390,000) C. $(1,286,000) D. $(760,000)
Burger King, Holiday Inn, Avis, and H&R Block tax service are all franchises, which means they are also members of a(n) ________ vertical marketing system (VMS)
A) administered B) conventional C) corporate D) horizontal E) contractual
Given an actual demand this period of 61, a forecast for this period of 58, and an alpha of 0.3, what would the forecast for the next period be using exponential smoothing?
A) 45.5 B) 57.1 C) 58.9 D) 61.0 E) 65.5
An offer must be practical to be effective.
Answer the following statement true (T) or false (F)