Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. after the accountant of regal plastics co had prep

After the accountant of Regal Plastics Co had prepared the financial statements for the year...

90.2K

Verified Solution

Question

Accounting

image
After the accountant of Regal Plastics Co had prepared the financial statements for the year onded 31 December 2020 , the accounts manager noled that an invico fifr scppy of raw materials) for 3,500 that has been paid has actually been recorded as sales recoipt. The profit for the year was 27,000 before this error was noted. What should be the profit for the year after adjusting for this error? a. 34,000 9.4,30,500 20,000 d. 1.23,500 Moving to another question will save this response

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Select all of the correct statements about reaction quotients and equilibrium constants from the choices below. A reaction...

Basic Math
1.2K views

These problems may be solved using Minitab. Copy and paste the appropriate Minitab output into a word-processed...

Biology
1.2K views

Without being in the presence of light a producer cannot make what A sugars B...

Geometry
1.2K views

urriculum 2 0 Honors mative Assessment I NO CA 4 Two of the equations below...

Geometry
1.2K views

If the average arithmetic mean of 3x and 11 is a the of 4x and...

Basic Math
1.2K views

Why Didn t Klutz Do Any Homework on Saturday Either multiply or factor as directed...

Calculus
1.2K views

Find the centroid of the region bounded by the graphs of the functions and y...

Accounting
1.2K views

What types of accounts are matched when the matching concept is used in...

Accounting
1.2K views

Question 6: If an employee working in a non-credit reduction state has year-to-date earnings subject...

Accounting
1.2K views

Compute the missing amount in each category of the accounting equation. Assets Liabilities Stockholders' Equity...

Finance
1.2K views

Some recent financial statements for Smolira Golf, Incorporated, follow. Find the following financial ratios for...

Accounting
1.2K views

fill the answer in this table ANSWER HERE ...