Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 13, 2024

Abidabi Ltds ending inventory is understated $4,000. The effects of this error on the current years cost of goods sold and net profit, respectively, are:

a. understated, overstated

b. overstated, understated

c. overstated, overstated

d. understated, understated

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

Financial And Accounting Principles In Islamic Finance

Authors: Samir Alamad

1st Edition

3030162982, 9783030162986

More Books

Students also viewed these Accounting questions

Question

★★★★★

Storm, Inc. purchased the following available-for-sale securities during 20Y9, its first year of operations: Name ________________ Number of Shares _______ Cost Dust Devil, Inc. ....................

Answered: 1 week ago

Question

★★★★★

Revenue/ Expense/ Net Assets Liabilities Equity Income Gain Loss: 1. NE NE NE NE NE NE 11. NE NE NE III. NE NE NE IV. +80,000 NE V. NE NE -20,000 -20,000 +80,000 +80,000 NE NE +80,000 NE +100,000 NE...

Answered: 1 week ago

Question

★★★★★

Outline five major criticisms of humanistic psychologies.

Answered: 1 week ago

Question

★★★★★

On January 15, 2010, National Star Inc. purchased 80,000 shares of Krypton Labs Inc. directly from one of the founders for a price of $55 per share. Krypton has 250,000 shares outstanding, including...

Answered: 1 week ago

Question

★★★★★

( 1 ) increased memory capacity from 6 4 K to 1 megabyte; ( 2 ) the 8 0 8 6 is a 1 6 - bit microprocessor instead of an 8 - bit microprocessor. ( 3 ) the 8 0 8 6 was a pipelined processor

Answered: 1 week ago

Question

★★★★★

Wile E. Coyote has placed an order with Acme Manufacturing for a bag of bird seed, a 50 foot length of fuse and and 4 pieces of TNT (dynamite). He evidently plans to hide the TNT in a pile of bird...

Answered: 1 week ago

Question

★★★★★

Complete the solution to the following differential equation. y" + 4y + 3y = 16et y(0) = 0, y(0) = 1 Applying the Laplace transform in both sides we get s2Y(s) - sy(0) -y (0) + 4[sY(s) = y(0)] +...

Answered: 1 week ago

Question

★★★★★

CheersInc., a small health insurance company, manages its own call center to provide customer service. A call is first taken by a general representative who will try to resolve the client's inquiry....

Answered: 1 week ago

Question

★★★★★

Many practices have tried to reduce no-shows through automated text and phone call reminders. But that only solves the issue of forgetfulness. Much more effective are options for online scheduling...

Answered: 1 week ago

Question

★★★★★

An action plan for a personal leadership portfolio. Please don't forget support in-text as well as in references. Developing the degree of self-awareness and direction setting as this assignment...

Answered: 1 week ago

Question

★★★★★

When considering QI, some people believe that major opportunities for improvement can be realized by increasing clinician's skills and competence. However, others believe that more opportunities for...

Answered: 1 week ago

Question

★★★★★

A job candidate answers yes to the question of whether they are a smoker. They are well qualified, but you decide not to hire them. Does the candidate have legal recourse?

Answered: 1 week ago

Question

★★★★★

Why is substance use a particularly tricky policy within Canadian workplaces?

Answered: 1 week ago

Question

★★★★★

List the major prohibitions of the Canadian Human Rights Act .

Answered: 1 week ago

Previous Question Next Question