C is the answer. Hope this helps.
Answer:
B net income is overstated, assets are overstated, and stockholders' equity is overstated
Explanation:
The movement in the balance of inventory at the start and end of a period is as a result of sales and purchases. While sales reduces the balance in inventory, purchases increases the balance. This may be expressed mathematically as
Opening balance + purchases - cost of goods sold = closing balance
Hence, where ending inventory balance is overstated, cost of goods sold is understated. When cost of goods sold is understated, gross and net incomes are overstated. Hence owner's equity is overstated and asset overstated.
<span>Should begin with immediate and effective comments/responses from all employees. There should then be meetings held to discuss the findings and to elaborate on what can be done to begin forming an effective communications program for all employees.</span>
Answer:
Dr Retained Earnings $6,000
Cr Common Dividends Payable $6,000
Explanation:
Preparation of the journal entry to record the dividend declaration
Based on the information given we were told that the Corporation declared the amount of $0.50 per share cash dividend on common shares in which 12,000 shares of the common stock are outstanding, hence The journal entry to record the dividend declaration is:
Dr Retained Earnings $6,000
Cr Common Dividends Payable $6,000
(12,000*$0.50)
Answer:
The payment made by Cordelia
Explanation:
In the scenario it stated clearly that Rupert filled out what would have been a normal application form for operational license in the country
However Cordelia using connections was able to schedule a meeting with the government official that <u>has the authority to determine which foreign companies get licenses, and pays him $200 to approve their license.</u>
Cordelia payment is nothing short of bribery and corruption because it is not a legally required payment and the motive was clearly to unduly influence the minister to approve their license.
Such payment will likely violate the foreign corrupt practices act
