Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income. Explain the consequences of this error on the current period's income statement.

Portia grant is an employee who is paid monthly. for the month of january of the current year, she earned a total of $8,388. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year and the fica tax rate for medicare is 1.45% of all earnings. the futa tax rate of 0.6% and the suta tax rate of 5.4% are applied to the first $7,000 of an employee's pay. the amount of federal income tax withheld from her earnings was $1,391.77. what is the total amount of taxes withheld from the portia's earnings?

Bcorporation, a merchandising company, reported the following results for october: sales $ 490,000 cost of goods sold (all variable) $ 169,700 total variable selling expense $ 24,200 total fixed selling expense $ 21,700 total variable administrative expense $ 13,200 total fixed administrative expense $ 33,600 the contribution margin for october is:

Identify the level of the literature hierarchy for u.s. gaap to which each item belongs