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Please help me answer the following questions a. How would an error recording an event related to the sale of inventory impact the financial statements?
Please help me answer the following questions
a. How would an error recording an event related to the sale of inventory impact the financial statements? More specifically, which financial statement(s) would be impacted? And why? Provide supporting arguments for your conclusion and an explanation for how you came to your conclusion. b. If Year 1 sales =109,000 units, following the trend in sales numbers, which, if any budget column do you think is the most informative and accurate for decision making purposes? Do you see any issues related to ending inventory and Year 1 or Year 2 sales numbers? Provide supporting arguments for your conclusion and an explanation for how you came to your conclusion. c. What trends do you see in the sales numbers from year 1 and 2 when compared to the flexible budget? Do you see any issues related to ending inventory and Year 1 or Year 2 sales numbers? Be specific. Provide supporting arguments for your conclusion and an explanation for how you came to your conclusion. d. What trends do you see in the inventory purchases numbers in year 2 that might impact the flexible budget? Do you see any issues related to ending inventory and Year 1 or Year 2 sales numbers? Be specific. Provide supporting arguments for your conclusion and an explanation for how you came to your conclusion. e. What types of decisions would an employee with your academic focus and/or experience make using this information? Give examples of both the decision and the information needed to feel confident in that decision. f. Which financial statement would an employee with your academic focus and/or experience find the most informative and why? Give specific examples of how that Step by Step Solution
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