Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 26, 2024

15. If the net profit for the year 2019 was $ 150,500, and during the year 2020 the company found some of the following errors

15.

If the net profit for the year 2019 was $ 150,500, and during the year 2020 the company found some of the following errors that linked to the year 2019:

- The salaries by 12,500 not recorded.

- Other expenses by 7,500 not recorded.

- Rent revenue by 7,000 not recorded.

Thus, the net profit for the year 2019 will be:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Health And Safety Audits

Authors: Lawrence B. Cahill, Raymond W. Kane

9th Edition

1605907081, 9781605907086

More Books

Students also viewed these Accounting questions

Question

★★★★★

Every linear function f: X Y maps the zero vector in X into the zero vector in Y. That is, f (0x) = 0Y.

Answered: 1 week ago

Question

★★★★★

2. Withhold your opinions until all sides of an issue have been explored.

Answered: 1 week ago

Question

★★★★★

Merry Olde Games produces croquet sets. The company makes fixed monthly payments to the local utility based on the previous years electrical usage. Any difference between actual and expected usage is...

Answered: 1 week ago

Question

★★★★★

EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system, performs automated collection, validation, indexing, and forwarding of submissions by companies and others who are required by...

Answered: 1 week ago

Question

★★★★★

Nine percent of the control group that received a fake treatment in a trial of a new arthritis medication said they had decreased pain blinding confounding non-response bias placebo effect response...

Answered: 1 week ago

Question

★★★★★

Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for: a. $5 cash per share. b. $6 cash per share. es View...

Answered: 1 week ago

Question

★★★★★

Hashing is a one-way function that maps a message to a fixed-size sequence of bits (hashed value) with the assumption it is extremely difficult to reverse the process. Given the hashed-value, it is...

Answered: 1 week ago

Question

★★★★★

Give me an example and evidence to prove that Boeing's investor relations website is doing a good job in preventing selective disclosure. The example (evidence ) should be kind of doing a comparison...

Answered: 1 week ago

Question

★★★★★

Consider the following integral. 7 I = log(4x) dx The best way to find an antiderivative for log(4x) is to use the integration by parts formula Suv'dx = uv- = uv f u'vdx where u(x) = log(4x) v'(x) =...

Answered: 1 week ago

Question

★★★★★

Designing a Norman Window A Norman window has the shape of a rectangle surmounted by a semicircle. Find the dimensions of a Norman window of perimeter 26 ft that will admit the greatest possible...

Answered: 1 week ago

Question

★★★★★

Know the components of a position description

Answered: 1 week ago

Question

★★★★★

Describe a managers essential downward (toward the employees) orientation as opposed to an upward (toward higher management) orientation

Answered: 1 week ago

Question

★★★★★

Explain the value of a true open-door policy

Answered: 1 week ago

Previous Question Next Question