In 2021, the internal auditors of development technologies, inc., discovered that a $4 million purchase of merchandise in 2021 was recorded in 2020 instead. the physical inventory count at the end of 2020 was correct. assume the company uses a periodic inventory system. required: prepare the journal entry needed in 2021 to correct the error. (ignore income taxes.) (enter your answers in millions (i. e., 5,000,000 should be entered as 5). if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

73. calculate the weighted average cost of capital (wacc) based on the following information: the equity multiplier is 1.66; the interest rate on debt is 13%; the required return to equity holders is 22%; and the tax rate is 35%. (a) 15.6% (b) 16.0% (c) 15.0% (d) 16.6% (e) none of the above

For each of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both: 1. sec examiner 2. bookkeeping department 3. division controller 4. external auditor (public accounting firm) 5. loan officer at the company's bank 6. state tax agency auditor 7. board of directors 8. manager of the service department 9. wall street analyst 10. internal auditor 11. potential investors 12, current stockholders 13. reporter from the wall street journal 14. regional division managers

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period