Accrued salaries payable of $51,000 were not recorded at december 31, 2014. office supplies on hand of $29,000 at december 31, 2015 were erroneously treated as expense instead of supplies inventory. neither of these errors was discovered nor corrected. the effect of these two errors would cause: a. 2015 net income to be understated $80,000 and december 31, 2015 retained earnings to be understated $29,000.b. 2014 net income and december 31, 2014 retained earnings to be understated $51,000 each. c. 2014 net income to be overstated $22,000 and 2015 net income to be understated $29,000.d. 2015 net income and december 31, 2015 retained earnings to be understated $29,000 each.

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.

List three careers that require knowledge of science. list three careers that require the use of of math. list three careers that require the use of foreign language. list three careers that require the use of good writing skills. list three careers that require the use of good computer skills.

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.