Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 29, 2024

Revenue for 2020 and 2021 Q2-2021 Q2-2020 600,500 675,300 Expenses for 2020 and 2021 Q2-2021

Revenue for 2020 and 2021

Q2-2021 Q2-2020

600,500 675,300

Expenses for 2020 and 2021

Q2-2021 Q2-2020

285,781 321,500

The income statement is audited and noted that expenses were actually 20 percent larger in Q2 2022 than initially noted. By how much in dollars (thousands) would the income fall in Q2 2022 due to the correction?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Okay lets solve this stepbystep Revenue for Q22021 600500 Revenue for Q22020 675300 Originall... 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

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: W. Steve Albrecht, James D. Stice, Earl K. Stice

10th edition

324645570, 978-0324645576

More Books

Students also viewed these Accounting questions

Question

★★★★★

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Answered: 1 week ago

Question

★★★★★

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

Answered: 1 week ago

Question

★★★★★

On November 1, 2014, Best Corp. signed a three-month, zero-interest-bearing note for the purchase of $80,000 of inventory. The maturity value of the note was $81,200, based on the banks discount rate...

Answered: 1 week ago

Question

★★★★★

Most businesses will incur debt at some point during their existence. Question 26 options: True False

Answered: 1 week ago

Question

★★★★★

A soft-drink manufacturer purchases aluminum cans from an outside vendor. A random sample of 70 cans is selected from a large shipment, and each is tested for strength by applying an increasing load...

Answered: 1 week ago

Question

★★★★★

Explain, giving examples, the main advantages of identifying cash surpluses and deficits in a cash budget.

Answered: 1 week ago

Question

★★★★★

An urn contains a red and b black balls.We select a ball randomly, note its color, but do not return it to the urn.We repeat this experiment n times (where n min{a, b}) and let X be the number of...

Answered: 1 week ago

Question

★★★★★

The Public Safety office at Millennium College maintains a list of parking tickets issued to vehicles parked illegally on the campus. Table 4-6 shows a portion of this list for the fall semester....

Answered: 1 week ago

Question

★★★★★

En 2020, el empleador de Alpha le proporcion un automvil propiedad del empleador que costaba $33,900 (incluido el HST de $3,900) durante 12 meses. Sus kilmetros para uso personal fueron 5.000 de un...

Answered: 1 week ago

Question

★★★★★

Applied Manufacturing, Inc. (AM) is a custom metal fabrication corporation providing a wide range of goods and services to its customers. For decades, AM has been a parts manufacturer and supplier to...

Answered: 1 week ago

Question

★★★★★

A disadvantage of the cash payback technique is that it ignores the cost of an investment. is complicated to use. ignores the time value of money. ignores obsolescence factors. eTextbook and Media

Answered: 1 week ago

Question

★★★★★

The need for ongoing change within the US healthcare system is warranted. However, before implementing change, advanced notice is given and explicit instructions on how the change will happen should...

Answered: 1 week ago

Question

★★★★★

People who want to raise kids should have to get a parenting license first. Parenting is a lot like piloting an airplane. In both cases, people's lives are in your hands: you could seriously injure...

Answered: 1 week ago

Question

★★★★★

From a collection of 7 different numbers and 8 different letters, 7- place license plates can be designed in such a way that the first 4 places are numbers and the next 3 places are letters....

Answered: 1 week ago

Question

★★★★★

Answer these questions about IP address space: (a) What is the theoretical maximum address space for a 32-bit address, such as that used by IPv4? (Ignore the fact that some addresses aren't usable or...

Answered: 1 week ago

Question

★★★★★

1. Jeff makes a contract with Acme Farms to buy 1000 apples for $200, which is the average price for apples at that time. The contract specifies that Jeff must have the apples by April 2 so that he...

Answered: 1 week ago

Question

★★★★★

26 of 35 Taylor Fish Farm's Stockholders' Equity section includes the following information: Preferred Stock $13,000 Paid-in Capital in Excess of Par-Preferred 3,400 Common Stock 17,000 Paid-in...

Answered: 1 week ago

Question

★★★★★

Define cultural intelligence. Cite the books or journal articles you found in Capella's library. Explain why cultural intelligence is important for HR practitioners and other organizational managers.

Answered: 1 week ago

Question

★★★★★

Bateman Company is preparing financial statements for the calendar year 2009. The following totals for each account have been verified as correct: Office Supplies on Hand...

Answered: 1 week ago

Question

★★★★★

Bank of America is one of the oldest banks in America, as well as one of the largest. Founded in the late 1800s, Bank of America has grown from a strictly California-based bank to one with operations...

Answered: 1 week ago

Question

★★★★★

Your sister is a biochemist, but she prides herself on keeping a close eye on the business news. It is her opinion that the U.S. federal government should increase the amount that it pays to the...

Answered: 1 week ago

Question

★★★★★

Harris Interactive Inc., the 15th largest market research firm in the world, is a Rochester, New Yorkbased company. One of its surveys indicated that 26% of women have had experience with a Global...

Answered: 1 week ago

Question

★★★★★

A test of hypothesis has the following hypotheses: H0: p 0.45 HA: p 0.45 For a sample size of 30, and a sample proportion of 0.55, a. For an a 0.025, determine the critical value. b. Calculate the...

Answered: 1 week ago

Question

★★★★★

Assume that the sports page of your local newspaper reported that 65% of males over the age of 17 in the United States would skip an important event such as a birthday party or an anniversary dinner...

Answered: 1 week ago

Previous Question Next Question