Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 14, 2024

please help in next 15 minutes multiple choice Bramble Company understated its inventory by $19800 at December 31, 2020. It did not correct the error

please help in next 15 minutes multiple choice

Bramble Company understated its inventory by $19800 at December 31, 2020. It did not correct the error in 2020 or 2021. As a result, Bramble's owner's equity was:

understated at December 31, 2020, and overstated at December 31, 2021.

understated at December 31, 2020, and properly stated at December 31, 2021.

understated at December 31, 2020, and understated at December 31, 2021.

overstated at December 31, 2020, and overstated at December 31

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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 Accounting

Authors: David Spiceland, Wayne Thomas, Don Herrmann

4th edition

1259307956, 978-1259307959

Students also viewed these Accounting questions

Question

★★★★★

The net income of Antiques Plus decreased sharply during 2017. Mariah Ciccone, owner of the store, anticipates the need for a bank loan in 2018. Late in 2017, she instructs the accountant to record a...

Answered: 1 week ago

Question

★★★★★

What types of statistical analysis were used? Were they appropriate to the level of measurement, hypotheses, and the design of the study? What alpha level was used to determine statistical...

Answered: 1 week ago

Question

★★★★★

Claim: three-fourths of all adults believe that it is important to be involved in their communities. Based on a USA Today/Gallup poll of 1021 randomly selected adults, 89% believe that it is...

Answered: 1 week ago

Question

★★★★★

Please answer both questions and show work in Excel. Images of the Excel and Formulas is fine Trinity Amusement Corporation is considering investing $160 million for capital projects this year. The...

Answered: 1 week ago

Question

★★★★★

If a minor lies about their age in a commercial transaction ( i . e . buyer and seller, where the minor is the buyer ) , who bears the risk of the contract being held voidable for lack of legal...

Answered: 1 week ago

Question

★★★★★

2.36 Consider the following code: LDURB X10, [X11, #0] STUR X10, [X11, #8] Assume that the register X11 contains the address 0x10000000 and the data at address is 0x1122334455667788. 2.36.1 [5] What...

Answered: 1 week ago

Question

★★★★★

The GoT cups are a fast seller and you need to ensure that you have enough rolls of paper to fulfill demand. The first stage in the process is to determine the total cost of the current inventory...

Answered: 1 week ago

Question

★★★★★

Using the cognitive model and the BRUSO model discussed in class, write survey items for the following general questions. It may take more than one question. Responding to a survey item is itself a...

Answered: 1 week ago

Question

★★★★★

Read the following text carefully, then answer the question. Exciting New Gym Opening Soon!!! Northside Gym is opening soon, providing a new level of gym experience. The gym will meet all your...

Answered: 1 week ago

Question

★★★★★

Complete the self-scoring "Followership Questionnaire" in Ch. 13 (p. 487) of Leadership: Theory and Practice . DueThursday respond to the following: Based on your results from the "Followership...

Answered: 1 week ago

Previous Question Next Question