Answer:
(a)Income statement:
Insurance expense - understated
net income - overstated
(b) balance sheet:
prepaid insurance - overstated
stockholders equity - overstated
Explanation:
Answer:
intrinsic reward
Explanation:
In the context of business, it can be said that in this scenario Karen is experiencing what is known as an intrinsic reward. This term refers to rewards that come from within the individual, in other words the satisfaction that they are feeling or the way they perceive meaning in the work that they do. Which in this case the intrinsic rewards that Karen is experiencing is the deep satisfaction when doing her job and finding new styles for her store.
Total= $159,552
Giving the following information:
The company has budgeted to sell 15,600 Debs in February.
Sales commissions $ 0.96*15,600= 14,976
Shipping $ 1.46 *15,600= 22,776
Executive salaries $ 60,600
Depreciation on office equipment $ 20,600
Other $ 40,600
Total= $159,552
Answer:
Both statements I and III are correct.
Explanation:
<u>1.Construct a zero investment portfolio that will yield a sure profit
</u>
<u>
</u>
<u>3.Make simultaneous trades in two markets without any net investments</u>
Answer:
The amount of cash received will be $6039
Explanation:
The amount of cash received on January 24 will be the net amount after deducting the sales returns and the discount allowed as the payment is made within 10 days period of the sale and the terms 1/10 states a 1% discount if payment is made within 10 days.
The net value of receivables after sales returns = 7000 - 900 = 6100
The discount allowed = 6100 * 1% = 61
Cash to be received = 6100 - 61 = $6039
