E4-16 (Algo) Analyzing the Effects of Errors on Financial Statement Items LO4-1 [The following information applies to the questions displayed below.] Quinlan-Cohen, Inc., publishers of movie and song trivia books, made the following errors in adjusting the accounts at year-end (December 31): Did not accrue $1,900 owed to the company by another company renting part of the building as a storage facility. Did not record $15,100 depreciation on the equipment costing $123,000. Failed to adjust the Unearned Fee Revenue account to reflect that $1,500 was earned by the end of the year. Recorded a full year of accrued interest expense on a $12,600, 8 percent note payable that has been outstanding only since November 1. Failed to adjust Prepaid Insurance to reflect that $650 of insurance coverage had been used.

You have $22,000 to invest in a stock portfolio. your choices are stock x with an expected return of 11 percent and stock y with an expected return of 13 percent. if your goal is to create a portfolio with an expected return of 11.74 percent, how much money will you invest in stock x? in stock y?

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

Zapper has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by stockholders of $6,000. its ending equity is