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serious [3.7K]
1 year ago
13

If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sa

les revenue, how will this error affect net income for the current period?.
Business
1 answer:
Elodia [21]1 year ago
3 0

If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sales revenue, this error affect net income for the current period through the net income will be too high.

What is net income?

Net income is defined as an entity's earnings less expenses, amortization, depreciation and dividends, and taxes for a specific accounting period in both professional accounting.

Net income is the amount that a person or business makes after expenses, reimbursements, and taxes.

Therefore,

If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sales revenue, this error affect net income for the current period through the net income will be too high.

To learn more about net income from the given link:
brainly.com/question/15530787

#SPJ4

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3 years ago
Which kind of budget would cause the largest increase in a country's national
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6 0
3 years ago
Your company is interested in producing and marketing a line of coffee that will penetrate the European market. Your firm is wil
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A franchise can be used.

<h3><u>Explanation:</u></h3>

Franchise refers to the authorization that is given by the government for involving in commercial activities. It is the permission that is obtained legally for using the ideas, expertise and processes of some one else with their permissions.

In the example given, a firm is willing to provide all necessary materials for the preparation of coffee and wants to penetrate the European market. The company here provides all the equipment, ingredients, trademarks and operating systems and hence it can make use of franchise type of strategy.

7 0
3 years ago
Why would decreased wages be an added problem for the Pullman workers?
NNADVOKAT [17]
Mark Brainliest please

Answer

The company cut their wages and extended their hours


Explanation:
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Pullman was founded by George Pullman and this company started from 1867 up until 1968. the workers working for Pullman had strike actions against their company as with many other workers who usually strike when not satisfied with the company. one reason of the strike was " The company cut their wages and extended their hours" this action was unfair and led to strikes against Pullman by the workers.
4 0
3 years ago
Who elects the governing body of a mutual insurance company?
Mariulka [41]

The answer is <u>"policyowners".</u>


A mutual insurance company is claimed by policyholders. The sole motivation behind a common insurance agency is to give protection scope to its individuals and policyholders, and its individuals are given the privilege to choose administration. Government law, as opposed to state law, decides if a safety net provider can be delegated a common insurance agency.  

Mutual insurance companies exist to guarantee that the advantages guaranteed to policyholders can be paid over the long haul. Since they are not exchanged on stock trades, shared insurance agencies can stay away from the weight of achieving here and now benefit targets.  

3 0
4 years ago
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