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11111nata11111 [884]
3 years ago
8

What effect will this adjustment have on the accounting records?

Business
1 answer:
12345 [234]3 years ago
6 0

Answer:

a.Increase Net Income

Explanation:

Unearned Revenue

The Accrual Principle requires Incomes and expenses to be recorded in the period they occur or incur.

Revenue not earned has not yet occurred and can not be recognized hence no effect on revenues reported for the period.

Fees earned

Fees earned represents increases in economic benefits from non primary activities of the company.

This has the overall effect of increasing Net income in the reporting period

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3 years ago
Sarah, the controller of a large beverage supplier, supervises two employees. Her boss, Vladimir, instructs her to increase the
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Answer: Sarah failed to evaluate a potential ethical issue.

Explanation:

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3 years ago
Eve Cosmetics Company consists of two departments, Blending and Filling. The Filling Department received 50,000 ounces from the
elena55 [62]

Answer:

The number of ounces started and completed during the period is <u>42,000 ounces</u>.

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Number of ounces completed by Filling = 46,000 ounces

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For a film studio to make a profit, it has to be able to earn enough to offset expensive initial costs. a large portion of the p
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Corona Company is owned equally by Maria, her sister Carlita, her mother, Gabriella, and her grandmother Olivia, each of whom ho
melamori03 [73]

Answer:

200 shares

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As per the family attribution rule Rule 318 the person is owner of his or her shares and deemed owner of the shares that their parent posseses. This means that Maria is treated as an owner of 100 shares she actually owns and the 100 shares that her mother owns, totalling it to 200 shares. The number of shares that her sister or grandmother owns is not included in the ownership as it is not as per the family attribution rule.

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