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Mazyrski [523]
2 years ago
8

Raphael Corp. incorrectly expensed a major addition to equipment when the company should have capitalized the expenditure. What

are the financial statement effects in the year the error was made
Business
1 answer:
noname [10]2 years ago
7 0

When Raphael Corp. incorrectly mentioned an expense of equipment addition instead of capitalizing the effect of the same, then in such case, the net income of the company is understated in the financial statements.

<h3>What is net income?</h3>

The income which is left at the end of an organization at the end of a financial period after making all the regulatory and compliant payments and deductions, such as taxes and depreciation, it is known as net income.

Hence, the significance of net income is aforementioned.

Learn more about net income here:

brainly.com/question/15570931

#SPJ1

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Conchita is applying for a VA loan. She has served in the military, on active service, for ninety days. She is trying to buy a t
LUCKY_DIMON [66]

Answer:

No, Conchita will not be considered for a VA loan.

Explanation:

In order for a Veterans Affairs (VA) loan to be given, the borrower must comply with the following conditions regarding service time:

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8 0
3 years ago
Compound Interest:
MA_775_DIABLO [31]

Option answer:

d. Interest = $10.64 and New Balance = $360.64

Answer:

A = $360.64

A = P + I where

P (principal) = $350.00

I (interest) = $10.64

Calculation Steps:

First, convert R as a percent to r as a decimal

r = R/100

r = 1.5/100

r = 0.015 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 350.00(1 + 0.015/4)(4)(2)

A = 350.00(1 + 0.00375)(8)

A = $360.64

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of $350.00 at a rate of 1.5% per year compounded 4 times per year over 2 years is $360.64.

7 0
2 years ago
Sarah's company encourages her to tolerate ambiguity and reward her employees for taking risk. In​ addition, she often has descr
Alik [6]

Answer:

Innovative company culture

Explanation:

This Characterizes a particular form of corporate culture mainly aimed at promoting creativity in business. Innovation Culture is the working environment that managers create to promote and apply unorthodox thought. Work environments that promote a creativity culture generally believe that creativity is not a leading province but it can originate from everyone.

7 0
3 years ago
What’s a commercial bank most likely going to do with your money when you deposit it?
sasho [114]

Answer:

keep it in-store and safe until you take some out and if it's there for a while ( like after a year or 2) they could take out a dollar each week or 5 dollars a month for the space you're taking up

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Imagine you are the executive of a marketing company. Beginning this year, the company will begin conducting an in-house course
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Explanation:

6 0
2 years ago
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