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mr_godi [17]
4 years ago
10

On January​ 1, 2018, the Prepaid Insurance account of​ Dogwood, Inc. had a beginning balance of $ 1,800. Three months of ins

urance premiums remain in this beginning balance. On February​ 21, 2018, the company paid an annual insurance premium in the amount of $ 4,100 for the period beginning March 1. On February​ 28, 2018, the balance in Prepaid Insurance is $ 1,200.A. TrueB. False
Business
1 answer:
miv72 [106K]4 years ago
6 0

Answer:

B. False

Explanation:

Beginning balance

-Period of policy= expired 2 months

-Period of unexpired insurance = 1 month (Out of 3 month, Insurance premium for period "Jan 1 to Feb 28" is expired)

Amount in prepaid insurance insurance= $1800 * 1/3 = $600

Current balance

Period = "0" since period of coverage will start from 1 march

Period of unexpired insurance = 12

Amount in prepaid insurance = 4,100

Thus, Total amount in prepaid insurance for the beginning and Current period= $600 + $4,100 = $4,700

The amount in prepaid insurance is $4700, hence the balance as stipulated as Prepaid Insurance = $ 1,200 is false

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Answer:

Explanation:

sure

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3 years ago
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DEF Ltd is a global leader in the manufacture, integration and support of networking and telecommunications systems. The company
Serjik [45]

Some of the challenges of this company include lack of control over financial reporting in all branches, and inaccurate data to make decisions for next years.

DEF Ltd's main problem is the inaccuracy regarding the recognition of revenue and other inconsistencies in financial reporting. This problem includes:

  • Inaccuracies related to revenue and deferred revenue.
  • Lack of documentation of some transactions.

Moreover, these problems are intended to be solved through a review process and training seminars. These two ideas are useful for the problem; however, the company might face some challenges and problems such as:

  • Lack of control in all branches: DEF Ltd seems to be a big company with multiple branches around the world. This makes it difficult for the company to control all financial records even if employees are educated about the process through seminars.
  • Inaccurate data for next periods: Considering there are lots of inconsistencies and some of the reports are incomplete, it is likely even after the review process the company does not have complete information about the previous transactions or revenues. This can affect future projections and decisions.

Note: This question is incomplete; here is the missing part:

Using the disclosures above as a starting point, brainstorm about the challenges regarding internal controls and that a company may face in doing business internationally?

Learn more in: brainly.com/question/10916805

5 0
2 years ago
Kiran owns a T-shirt shop in a beach community. For many years, he owned the only T-shirt shop in the area. Recently, several ot
marishachu [46]

Answer:

most likely kiran is going to go out of business

Explanation:

so he has to step up his products and have something that makes his stuff look outstanding like ads and he might want to have someone with a lot of fame to represent his brand

8 0
3 years ago
Resistance to change
Artemon [7]

The correct answers are

While completing a task with his teammates, Alfred has some solutions he wants to propose...Language barrier

Terri has been asked to train Sandy, a new employee, to interact with customers at the bank...Prejudice

Paul has been working under a male manager for the last three years. His manager is now being replaced ...Resistance to change

Explanation:

Diversity in language, norms, beliefs, etc. can lead to multiple challenges such as communication or understanding challenges. In the case of the language barrier, this occurs when people speak languages or dialects, and this leads to misunderstandings and communication issues. This occurs in the first case because Alfred cannot communicate successfully with his teammates since he cannot explain his ideas in English.

On the other hand, prejudice occurs when individuals have biased ideas about people based on race, age, preferences, etc. This often leads to discrimination and negative attitudes. This can be seen in the second case because Terri assumes customers will not be comfortable interacting with a new employee just because of her race, which is a biased and unsupported idea.

Finally, resistance to change occurs if individuals perceive changes as negative, and therefore they are afraid or reluctant to new things. This occurs in the third case because Paul does not want to have a female manager, and even considers leaving his job just because there was a change in the manager.

7 0
3 years ago
A market is defined as A. a store where people buy physical goods. B. a physical place where people buy both goods and services.
FinnZ [79.3K]

Answer:

c

Explanation:

C. a place where one good is bartered for another.

3 0
3 years ago
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