Koppell Co

question 8

Multiple Choice

Koppell Co. made the following errors in counting its year-end physical inventories:

The entry to correct the accounts at the end of 2011 is

• A) Retained Earnings ................... 48,000 Cost of Goods Sold .................. 42,000 Inventory ........................ 90,000
• B) Retained Earnings ................... 18,000 Cost of Goods Sold .................. 72,000 Inventory ........................ 90,000
• C) Inventory .......................... 90,000 Cost of Goods Sold ............... 18,000 Retained Earnings ............... 72,000
• D) Cost of Goods Sold .................. 198,000 Retained Earnings ................ 108,000 Inventory ........................ 90,000

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Definitions:

Free-Living Bacterium

A free-living bacterium is one that exists independently in the environment, not requiring a host organism for survival.

Pseudogenes

Segments of DNA that are similar to functional genes but are non-functional due to mutations, representing evolutionary remnants.

Mobile Elements

Sequences of DNA that can move or copy themselves to new positions within the genome of a single cell.

Evolution Rate

The speed at which evolutionary changes occur within a species or across species, influenced by various environmental and genetic factors.