FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Below ale rome and cost of prods sold Coas) for the Thomas Corporation for 2020 and 2021. 2020 2021 Sale $10.000 $12.000 COG Bs in

image text in transcribed
Below ale rome and cost of prods sold Coas) for the Thomas Corporation for 2020 and 2021. 2020 2021 Sale $10.000 $12.000 COG Bs in 1.000 1500 Pchuss 70 4.50 COGA 3.000 10.000 Endingen O. 000 Gas pro $3.500 $4.000 Thomas Corporation become that the ending inventory above tor 2020 was understated by $700. The correct ending inventory on Deante 11.2.2 was $2.200 rather than $1500, the correct gross proht for 2020 and 2021 would be: 212042022400 Grme peste 200 230 221 53.390 Ganpattu 26.12.30.2004 5230 Cras pote$280, 22154700 Question 18

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

Digging For Disclosure Tactics For Protecting Your Firms Assets From Swindlers, Scammers, And Imposters

Digging For Disclosure Tactics For Protecting Your Firms Assets From Swindlers, Scammers, And Imposters

Authors: Kenneth S. Springer, Joelle Scott

1st Edition

0131385569, 9780131385566

More Books

Students also viewed these Accounting questions

Question

★★★★★
Phobos, one of the moons of Mars, orbits at a distance of 9378 km from the center of the red planet. What is the orbital period of Phobos?

Answered: 1 week ago

Question

★★★★★
One way to create a unique identifier for every element in a data table is to use an existing unique identifier, such as a social security number.

Answered: 1 week ago

Question

★★★★★
1. Send the student on an errand, or ask him or her for help.

Answered: 1 week ago

Question

★★★★★
Laser Delivery Services, Inc. (LDS) was incorporated January 1. The following transactions occurred during the year: a. Received $ 40,000 cash from the companys founders in exchange for common stock....

Answered: 1 week ago

Question

★★★★★
CALCULATOR PRINTER VERSION roblem 5-4A (Video) unland Corp.'s sales slumped badly in 2020. For the first time in its history, it operated at a loss. The company's Income statement showed the...

Answered: 1 week ago

Question

★★★★★
What is the main coding behind responsive email design?

Answered: 1 week ago

Question

★★★★★
The Austin Manufacturing Company wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Cost of Electricity Direct Labor Hours January...

Answered: 1 week ago

Question

★★★★★
12. Portfolio Variance (LO2, CFA5). Use the following information to calculate the expected return and standard deviation of a portfolio that is 50 percent invested in 3 Doors, Inc., and 50 percent...

Answered: 1 week ago

Question

★★★★★
Can you calculate the NPV, IRR, and Payback for the following information: The minimum price for a condominium unit is $300,000, and buyers expect a high-quality project. Response to the initial...

Answered: 1 week ago

Question

★★★★★
Diman, lessor leased a lot to Dili, lessee for 15 years beginning January 2019, subject to the following terms and conditions: Mothly rental 200000 Advance rental for 2 years 480000 Security deposit...

Answered: 1 week ago

Question

★★★★★
1. Alejandro knows that he needs $32,100 per year to live comfortably now. He plans to retire in about 39 years and plans to be retired for about 23 years after that. Determine... a. [2 pts] how much...

Answered: 1 week ago

Question

★★★★★
4.51 Determine the probability of more than 7 successes for a random variable with a Poisson distribution with parameter l = 4.4.

Answered: 1 week ago

Question

★★★★★
4.56 A customer service center in India receives, on average, 4.2 telephone calls per minute. If the distribution of calls is Poisson, what is the probability of receiving at least 3 calls during a...

Answered: 1 week ago

Question

★★★★★
4.57 Records indicate that, on average, 3.2 breakdowns per day occur on an urban highway during the morning rush hour. Assume that the distribution is Poisson. a. Find the probability that on any...

Answered: 1 week ago

Previous Question Next Question