The chef manager received a vendor shipment on the last day of the accounting period, after submitting the period's ending inventory. what should be done to make sure the financials are correctly stated?
a. nothing
b. adjust the ending inventory
c. adjust the ending inventory and process the vendor payment
d. process the vendor payment
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The chef manager received a vendor shipment on the last day of the accounting period, after submitting the period's ending inventory. what ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Marlene works at a toy factory, where she is in charge of sewing the eyes onto stuffed animals. She has been doing this job for some time now and is becoming bored and dissatisfied with her job.
Answers (1)
Read the scenario. Brad has a steady job, solid income, and plans to live in a nearby city for the long term. He is looking to purchase both a car and a place to live, and he is very interested in building up equity and credit to add to his assets.
Answers (1)
In a flexible budget, when the activity declines, the total variable cost also declines.
Answers (1)
During the year being audited, the Matthews Corporation changed from a system of recording time worked on clock cards to an IT payroll system in which employees record time in and out with magnetic cards.
Answers (1)
What is job production
Answers (1)
New Questions in Business
On December 31, Treats Catering Inc.'s trial balance shows a $1,000 balance in the Supplies account. However, a physical count of the supplies determined that only $350 of supplies actually remain in the supply cabinet.
Answers (1)
What is one way a company can work to build relationships with it's customers?
Answers (1)
We have a separate country known as Lezette-ville. The GDP per capita in 2010 was $18,000 in 2010 dollars. While in 2018, the GDP per capita was $20,725 in 2018 dollars. The CPI in 2010 is 218 while the CPI in 2018 is 251.
Answers (1)
You are a monopolist that sells textbooks to undergraduate students. Currently you sell 100 books at a price of $100 each, for revenue of $10,000. Each book is essentially costless to print, so you ignore costs and focus on maximizing revenue.
Answers (1)
If caIn preparing the trial balance of the K&L's Bridal Service, the withdrawal account (which had a normal balance in the general ledger) was listed as a credit for $400.
Answers (1)