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2 years ago

The failure to properly record an adjusting entry to accrue an expense will result in an:

1 answer:

5 0

The failure to properly record an adjusting entry to accrue an expense will result in an understatement of expenses and an understatement of liabilities. This is further explained below.

<h3>What are expenses?</h3>

Generally, expenses are simply defined as what it would take or what it would cost to do anything.

In conclusion, Incorrectly recording an accrual adjustment entry will result in a misstatement of both costs and liabilities.

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The Goliath Inc. decides to pay the following dividends over the next three years: $2, $2.6, and $3.38. Thereafter, the company

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Answer:

The solution and complete explanation for the above question and mentioned conditions is given below in the attached document.i hope my explanation will help you in understanding this particular question.

Explanation:

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3 years ago

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When the price of a good is $5, the quantity demanded is 120 units per month; when the price is $7, the quantity demanded is 100

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Price elasticity can be calculated using the attached formula where:
the first term represents the % change in quantity and the second term represents the % change in price

% change in quantity = (100-120) / (220/2) = -2/11 x 100 = -18.1818%
% change in price = (7-5) / (12/2) = 33.3333%

price elasticity = 18.1818/33.3333 = 0.55

Note that the price elasticity is usually taken as an absolute value.

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3 years ago

For a recent year, Best Buy reported sales of $42,410 million. Its gross profit was $9,690 million. What was the amount of Best

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Answer:

The amount of Best Buy's cost of goods sold was $32,720 million

Explanation:

cost of goods sold = sales - gross profit

= $42,410 million - $9,690 million

= $32,720 million

Therefore, The amount of Best Buy's cost of goods sold was $32,720 million

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3 years ago

The unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed equals:

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Based on the number of people that are employed and those who are unemployed in this town, the unemployment rate is 14.4%.

<h3>What is the unemployment rate?</h3>

The unemployment rate can be found by the formula:
= Employed people / (Unemployed + Employed people)

Solving gives:

= (11,000) / (65,400 + 11,000)

= 11,000 / 76,400

= 14.4%

In conclusion, the rate is 14.4%.

Find out more on the unemployment rate at brainly.com/question/13280244.

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2 years ago

The quantity of good Y is measured along the vertical axis, and the quantity of good X is measured along the horizontal axis. If

Degger [83]

Answer:

shifts inward to the left and both intercepts will decline.

Explanation:

A budget line shows the various combinations an individual can purchase of two goods given an income level or budget.

When there is an increase in price, the number of goods that can be bought at all price levels decreases, there is a shift in the budget line to the left.

This is illustrated in the attached diagram. When price increases there is a shift from A'B' to AB

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3 years ago