This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the total costs assigned to L9 (b) under single indirect-cost pool system? A) 53,000 B) ... (Read 120 times)

maegan_martin

  • Hero Member
  • *****
  • Posts: 532
on: Jul 5, 2018
What is the total costs assigned to L9 (b) under single indirect-cost pool system?
 
  A) 53,000
  B) 57,000
  C) 55,000
  D) 54,000

Question 2

For the year ending December 31, Beard Clinical Supplies Co mistakenly omitted adjusting entries for (1) 9,800 of unearned revenue that was earned, (2) earned revenue that was not billed of 10,200, and (3) accrued wages of 7,000 . Indicate the combined effect of the errors on (a) revenues, (b) expenses, and (c) net income.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

johnpizzaz

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jul 5, 2018
Answer to Question 1

Answer: A

Answer to Question 2

(a) Revenues were understated by 20,000 (9,800 + 10,200).
(b) Expenses were understated by 7,000.
(c) Net income was understated by 13,000 (20,000  7,000).


maegan_martin

  • Member
  • Posts: 532
Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

olderstudent

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

The female reproductive system, sagittal view showing organs of the system in relation to the urinar The female reproductive system, sagittal view showing organs of the system in relation to the urinar
Organs of the urinary system. This illustration is an anterior view of a female with the abdominal w Organs of the urinary system. This illustration is an anterior view of a female with the abdominal w
Limbic system. Limbic system.
Understanding the Solar System Understanding the Solar System
Digestive System Digestive System
Endocrine System Endocrine System
Video: Effect of blood chemistry - stimuli, hyperventilation response and hypoventilation response

For a complete list of videos, visit our video library