Answer:
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Explanation:
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2015 150,000 overstated
P uses the periodic inventory system to ascertain year-end quantities that are converted to dollar amounts using the FIFO cost method. Prior to any adjustments for these errors and ignoring income taxes, P's retained earnings at January 1, 2016, would be:
Answer:
$150,000 overstated
Explanation:
Given
2014 $120,000 understated
2015 150,000 overstated
Using the FIFO cost method, the retained earnings would be $150,000 overstated.
The understated earnings of $120,000 would affect the earnings of 2014 cost of goods sold to be entered as overstated. At the same time, this would understate the net income and the retained earnings.
Having mentioned the above, this would also affect the beginning Inventory of 2015 cost of goods sold to be understated. By the same virtue, this would overstate the net income and the retained earnings by the same amount the net income and retained earnings is understated, effectively correcting the balance of the retained earnings.
Lastly, The $150,000 overstated ending inventory would then affect the 2015 cost of goods sold to beunderstated; this would overstate the Net Income and Retained Earnings.
Answer:
P's retained earnings are overstated by $150,000.
Explanation:
First of all, the $120,000 inventory understatement would cause the 2014 cost of goods sold to be overstated. In other words, profits and consequently retained earnings were understated because COGS were too high.
Because the 2014 ending inventory was understated, the beginning inventory in 2015 would be understated also. Since the initial inventory was understated, the COGS would be too low during 2015, which would end up correcting the previous error during 2015 (both profits and retained earnings should level up).
By the end of 2015, an error happened again and this time the ending inventory was overstated by $150,000, which understates COGS and overstates profits (and retained earnings). This should also be corrected during 2016, but since we are asked about January 1, 2016, then the correction hasn't occurred yet.
The problem with a periodic inventory system is that COGS is determined at the end of the accounting period, unlike a perpetual inventory system that records COGS immediately. Any variation in final inventory will change profits and directly affect retained earnings.
b. command and market economies.
c. market and traditional economies.
d. command and demand economies.
2. Most countries of the world today have a
a. market economy.
b. traditional economy.
c. mixed economy.
d. command economy.
3. Inflation indicates that
a. unemployment is falling.
b. unemployment is rising.
c. the Consumer Price Index is falling.
d. the Consumer Price Index is rising.
3. An indicator of steady economic growth is a
a. zero inflation rate.
b. negativ
A. a private loan because she may qualify for loan forgiveness
B. a federal loan because she may qualify for loan forgiveness
C. a private loan because she does not have to pay it back
D. a federal loan because she does not have to pay it back
B. quality improvement
C. interdisciplinary relationships
D. personnel policies and programs
Answer: Personnel policies and programs
Explanation:
The personnel policies and the program is refers to the force of magnetism which is used to assess for reviewing the structural empowerment in an organization.
The personnel policies and the programs basically provide an innovation environment where the staff in an organization are empowerment and develop their empirical qualities which include the improvement, knowledge and the innovation.
According to the given question, the personnel policies and the programs are the structural empowerment of an organization that demonstrating the innovations in the health care organization.
Therefore, Personnel policies and programs is the correct answer.
b. royalties.
c. commission.
d. profit.
When a business earns more money than it spends, the entrepreneur is paid from the profit. Hence option D is correct.
Profit is the positive difference between a business's total revenue and its total expenses, including the cost of goods sold, operating expenses, and taxes. It represents the financial reward for the entrepreneur's efforts in successfully managing and running the business.
This surplus amount can be used to compensate the entrepreneur for their investment of time, expertise, and capital, as well as reinvest in the business's growth and expansion.
It is a key indicator of a business's financial health and sustainability, allowing the entrepreneur to reap the rewards of their hard work and strategic decisions.
Therefore option D is correct.
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Firm 1 will be given a quota of 692.31 units, and Firm 2 will be given a quota of 307.69 units.
To determine how the government agency will divide the 1000 units of pollution between the two firms, we need to consider their marginal costs of pollution abatement and the constraint that their combined pollution cannot exceed 1000 units.
Let's solve for the optimal allocation using the given marginal cost functions:
1. Set up the optimization problem:
Maximize total pollution abatement subject to the constraint:
x₁ + x₂ ≤ 1000
2. Determine the marginal cost functions for each firm:
Firm 1's marginal cost of pollution abatement: c₁(x₁) = 6000.00 + 4.00x₁
Firm 2's marginal cost of pollution abatement: c₂(x₂) = 1500.00 + 8.00x₂
3. Formulate the objective function:
Maximize c₁(x₁) + c₂(x₂)
4. Solve the optimization problem using the given constraint:
Subject to x₁ + x₂ ≤ 1000
By substituting the marginal cost functions, the problem becomes:
Maximize (6000.00 + 4.00x₁) + (1500.00 + 8.00x₂)
Subject to x₁ + x₂ ≤ 1000
5. Solve the optimization problem to find the optimal allocation:
By solving the problem, we find that x₁ ≈ 692.31 and x₂ ≈ 307.69.
Therefore, the government agency will allocate a quota of approximately 692.31 units to Firm 1 and a quota of approximately 307.69 units to Firm 2 to ensure that the combined pollution does not exceed 1000 units.
The complete question is:
Two firms operate in a manufacturing industry that generates a significant amount of pollution. The local government has decided to crack down and limit the total amount of pollution to 1000 units. Each firm has a different cost of cleaning up its production process. Firm 1's marginal cost of pollution abatement is c₁(x₁) = 6000.00 +4.00 x₁ and firm 2's marginal cost of abatement is C₂(x₂) = 1500.00+ 8.00(x₂), where x₁ and x₂ are the amounts of pollution emitted by each firm. The two firms are constrained to produce no more than the 1000 units of pollution combined. 1st attempt See Hint
Suppose that a government agency is able to estimate the pollution abatement equations and set quotas for each firm. How will it divide up the 1000 units of pollution between the two? Give all answers to two decimals.
Firm 1 will be given a quota of____ units and firm 2 will be given a quota of ___units.
To know more about marginal costs, refer here:
brainly.com/question/30099644
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