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3 years ago

If the accountant forgets to adjust the Prepaid Expenses account, there will be_____________.

Business

1 answer:

Lana71 [14]3 years ago

5 0

Answer:

There will be an overstatement in income and an overstatement in current assets

Explanation:

In case an accountant forgets to adjust the prepaid expenses account for the period, the recognized expenses is understated because to adjust prepaid expenses we have to debit expenses (which will lead to an increase in recognized expenses) and credit prepaid expense account (a deduction to current asset). Failure to do so, income recognized for the period is overstated and prepaid expenses account is overstated as well.

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Croissant Company's standard fixed overhead cost is $6 per direct labor hour based on budgeted fixed costs of $600,000. The stan

slamgirl [31]

Answer:

Standard activity level= 100,000 units

Explanation:

Giving the following information:

Croissant Company's standard fixed overhead cost is $6 per direct labor hour based on budgeted fixed costs of $600,000. The standard allows 1 direct labor hour per unit.

Standard activity level= 600,000/6= 100,000 units

3 0

4 years ago

By producing cars that do more than get riders to their destinations and back, mercedes-benz is addressing consumers’ ________ n

algol [13]

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers'<u> Functional and psychological</u> needs.

Harley Davidson was acquired through eastern-owned Kawasaki Motor Corporation LTD. Milwaukee, April 1, 2014 — Harley-Davidson, Inc. (HOG) has introduced a settlement to be obtained with the aid of Japanese-owned Kawasaki Motor organization LTD nowadays, Tuesday, April 1, 2014, for an undisclosed sum.

The stock Is Falling. Harley-Davidson inventory turned falling after the motorcycle maker stated its first-zone running income declined due to semiconductor shortages and other deliver-chain problems.

All Harley Davidson bikes for our marketplace are assembled within the US. Harley Davidson contracts elements to be products of diverse factories around the sector in places together as Germany, Taiwan, Japan, Mexico, and Italy.

Learn more about the Harley-Davidson here: brainly.com/question/17153630

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2 years ago

Volume(units) Series 1 Series 2 Series 3 Series 40 $450 $0 $800 $100100 450 800 800 105200 450 1,600 800 120300 450 2,400 1,600

elena55 [62]

Answer: Please refer to Explanation

Explanation:

To make your question clearer, I have attached a table that demarcates the figures.

Series 1 are FIXED COSTS. Fixed costs do not change over the production process and are not dependent on the level of production. Even if you were not producing anything you would still be accruing fixed costs. Notice how the cost stays at $450 throughout even when no production was being done. It is a fixed cost.

Series 2 is a VARIABLE COST. Variable costs change as production takes place. They rise as more goods are produced and usually do so at a steady rate. Variable costs are not incurred when production is not going on. Notice in Series 2 how there was no cost at 0 units but as soon as production started the costs started increasing at a steady rate of 800 per hundred units.

Series 3 is what we call STEP-WISE COST. It gets it's name from the fact that it looks like a step when graphed. Why?

These costs stay stable for a certain amount of production and then change depending on if production increases or decreases. Notice how from 0 units to 200 units it stayed the same and then increased and stayed the same again.

I have attached a sample of step wise costs.

Series 4 is what we call CURVILINEAR COST. They are the confused guys so to speak because they increase at an irregular rate as production rises. Notice how it increased by 5 and then by 15 and then by 25. Irregular rate rise. I have also attached a sample of this when it is graphed.

Thanks all I have for today. Thank you for coming to my Ted Talk. If you need any clarification do comment.

8 0

3 years ago

Lynch Company began operations in 2019. The company reported $24,000 of depreciation expense on its income statement in 2019 and

rusak2 [61]

Answer:

2019 $8,000

2020 $19,000

Explanation:

Calculation to determine the temporary difference between the book value of depreciable assets and the tax basis of these assets at the end of 2019 and 2020.

Calculation for 2019 Temporary differences

2019

Using this formula

2019 Temporary differences = 2019 Depreciation- 2019 depreciation expense

Let plug in the formula

2019 Temporary differences =$32,000 - $24,000

2019 Temporary differences= $8,000

Calculation for 2020 Temporary differences

Using this formula

2020 Temporary differences=(2019 Depreciation+2020 Depreciation)-( 2019 Depreciation expense+2020 Depreciation expense)

Let plug in the formula

2020 Temporary differences= ($32,000 + $37,000) - ($24,000 + $26,000)

2020 Temporary differences=$69,000-$50,000

2020 Temporary differences= $19,000

Therefore the temporary difference between the book value of depreciable assets and the tax basis of these assets at the end of 2019 and 2020 will be $8,000 and $19,000

3 0

3 years ago

3M allows employees to spend 15% of their working time on projects that they feel passionate about. Sometimes there is more inte

Darina [25.2K]

Answer:

Stimulating conflict

Explanation:

The stimulating conflict would measures the new goals search and it would be lead to innovation. Also it would increase the members bonding.

Since in the given situation the manager would select the volunteers in order to compete for the correct work that would stimulate the group bonding because of the same interest also it would rise the volunteers efficiency

Hence, it is used stimulating conflict

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3 years ago