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Plz, I need your help of the questions attached in image. 93. 94. 95. Assume that no correcting entries were made at December 31, 2010.
Plz, I need your help of the questions attached in image.
93. 94. 95. Assume that no correcting entries were made at December 31, 2010. Ignoring income taxes, by how much will retained eamings at December 31, 2011 be overstated or understated? Assume that no correcting entries were made at December 31, 2010, or December 31, 2011 and that no additional errors occurred in 2012. Ignoring income taxes, by how much wil working capital at December 31, 2012 be overstated or understated? The following information is available for Naab Company for 2010: Freight-in purchase returns Selling expenses Ending inventory $ 30,000 75,000 150,000 260,000 The cost of goods sold is equal to 400% of selling expenses. What is the cost of goods available for sale? Winsor Co. records purchases at net amounts. On May 5 Winsor purchased merchandise on account, $16,000, terms 2,110, n/30. Winsor returned $1200 of the May 5 purchase and recelved credit on account. At May 31 the balance had not been paid. 96. 97. The amount to be recorded as a purchase return is? By how much should the account payable be adjusted on May 31 ?
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