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2 years ago

Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what

Business

1 answer:

zlopas [31]2 years ago

8 0

Answer:

overstated

Explanation:

Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened.

However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.

Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED

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Although generous disability insurance can help those who have been permanently injured, it can also increase the likelihood tha

emmasim [6.3K]

Answer:

B, Indirect incentive

Explanation:

An incentive is anything that motivates an individual to behave in a certain way. An incentive could range from money to many other things and it is the reason why an individual acts in a certain way.

For example, salary and bonuses are incentives for workers. This makes the worker work better and harder and more efficiently because he/she knows that there is something to encourage him for doing his/her work diligently.

Incentive can be direct or indirect as in the case of the above question.

In the case of the above question, a generous disability insurance can motivate workers to falsely claim to be disabled. This means that the financial implication of the insurance package for disability is most likely the only reason for workers to claim false disability.

Cheers.

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3 years ago

A ____ is a document from a bank guaranteeing that a seller will receive payment in full as long as certain delivery conditions

Katen [24]

Answer:

Letter of Credit is the correct answer.

Explanation:

7 0

2 years ago

Gregory knew that he was going to have to pay a premium for buying a home in a certain area but was determined to do so because

labwork [276]

The characteristic of value that is represented here is <u>C. Situs.</u>

<h3>What is Situs?</h3>

Situs refers to the location of the property in legal terms. The location of an asset adds or subtracts value from the property. Some properties are located in urban areas where the demand is much more than in suburbs or rural areas. Such properties attract equivalent values based on their locations.

<h3>Answer Options:</h3>

A. Scarcity

B. Nolo Contendere

C. Situs

D. Caveat Emptor

Thus, the characteristic of value represented in this scenario is not scarcity, nolo contendere, or caveat emptor, but <u>Option C. Situs.</u>

Learn more about the location of a real estate at brainly.com/question/26010601

7 0

2 years ago

Based on the following information, prepare the bank reconciliation for Cougar Corp. as of December 31. A. On December 31, Couga

True [87]

Answer and Explanation:

The Preparation of bank reconciliation for Cougar Corp. as of December 31 is shown below:-

<u>Cougar Corp.</u>

<u>Bank reconciliation</u>

<u>For the year ended December 31</u>

<u>Particulars Amount</u>

Bank balance Dec 31 $24,575

Add: Deposit in transit $2,500

Less:

Outstanding checks #302 ($180)

Outstanding checks #303 ($95)

Outstanding checks #304 ($25) ($300)

Bank balance adjusted $26,775

Cash balance on 31 Dec $26,504

Add: EFT from customer $1,700

Add: Interest income $21 $1,721

Less: Posting error

($5,400 - $4,500) $900

Less: NSF check $500 $1,400

Book balance adjusted $26,775

Hence, the bank balance and the book balance are matched

8 0

2 years ago

Paxton Company can produce a component of its product that incurs the following costs per unit: direct materials, $9.50; direct

mrs_skeptik [129]

Answer:

$7.50 per unit

Explanation:

Cost of buying from outside supplier = $33 per unit.

Relevant cost of making such component in-house = Direct materials+ Direct labor+ Variable overhead

= $9.50 per unit + $13.50 per unit + $2.50 per unit

= $25.50 per unit

Net incremental cost of buying the component = Cost of buying from outside supplier- Relevant cost of making such component in-house

= $33.00 per unit - $25.50 per unit

= $7.50 per unit

4 0

2 years ago