The effect of an error resulting in an understatement of ending inventory is to

a overstate the next periods beginning inventory

b understate cost of goods sold of the current period

c overstate cost of goods sold of the current period

d overstate operating expenses of the current period

Which of the following is an example of formal management controls? answers: a firm's culturethe willingness of employees to monitor each otherbudgeting and reporting activitiesmanagerial motivation

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

Excel allows you to take a lot of data and organize it in one document. what are some of the features you can use to clarify, emphasize, and differentiate your data?