Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company failed to record accrue $9 millions of cost related to vendor invoices and warranty liability at the end of the year sales $97

A company failed to record accrue $9 millions of cost related to vendor invoices and warranty liability at the end of the year sales $97 million all cost including interest expense taxes $83 million net income $14 million this year assets all current assets combined $74 million all long term assets combined $61 million Toal assets this year $135 million last year all current assets combined $68 million all long term assets combined $59 million total assets $127 million liabilities stockholder equity this year $61 million all current liabilities combined $35 million stockholder equity $39 million Toal liabilities and equity $135 million last year all current liabilities combined $57 million all long term liabilities combined $45 million stockholders equity $25 million and total liabilities and equity $127 million

calculate the current ratio per company statement

calculate current ratio if fixed this error

calculate the ROI per company statement

calculate ROI if error is fixed

calculate ROE per company statement

calculate ROE if error is fixed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Monthly Bank Reconciliation Statement Log

Authors: Elizabeth S.R.M. Cole

1st Edition

1541036824, 978-1541036826

More Books

Students also viewed these Accounting questions

Question

Define an attribute, and give an example.

Answered: 1 week ago

Question

6.65 Find the probability that z lies between z=-1.48 and z=1.48.

Answered: 1 week ago

Question

Do you believe that Matilda overreacted to James? Why or why not?

Answered: 1 week ago