Answer:
$ 73.800 is the adjusted net income
Explanation:
Net Income before adjustment $ 76,400
Adjustments for:
Supplies expense (increasing expense, reducing income) $ (3.200)
Unrecorded Service Revenues (increasing net income) $ 3.680
Accrual of interest on note to bank
(increasing expense, reducing income) <u>$ (3.080)</u>
Adjusted net income <u>$ 73.800</u>
Answer:
The answer is letter "D": Estimate the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods.
Explanation:
There are five steps for revenue recognition established by the Financial Accounting Standards Board (<em>FASB</em>) which are: <em>Identifying the contract with a customer; Identifying the performance obligations in the contract; Determining the transaction price; Allocating the prices to the performance obligations </em>and<em>; Recognizing revenue.</em>
In that sense, estimating the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods has nothing to do with it.
Answer:
The main difference of them is that <u><em>the programmed decisions faced repetitive problems when the other does not</em></u>.
Explanation:
On one hand, the programeed decisions are those that involve repetitive scenarios with problems that already happended once, therefore that the person that takes these kind of decisions does not need to prepare a new method or technique in order to face the problem, instead that person just need to follow a method that was previous designed for that type of situation.
On the other hand, the nonprogrammed decisions are those complete opposite to the programmed decisions, that comprehends that those type are commonly used in the decision making process when dealing with a new problem that has never occured before and therefore that it needs planning and structuring of a new method to solutionate the problem.
To sum up, the implications that those differences, allegated before, do to the decision maker is that <em><u>in the programmed decisions the person who takes the decision does not need to plan</u></em> or structure any new method to face the problem, meanwhile <u><em>in the nonprogrammed decisions the person does obligatorily need to structure a method to resolve the problem</em></u>.
Answer: d. a deduction of $80,000 under financing activities.
Explanation:
Under the indirect method of showing cashflows, there are 3 sections being the Operating section, the investing section and the financing section.
The relevant section is the financing section. Financing activities are those transactions that relate to the business raising capital to fund their operations. They do this through long term debt and equity.
Dividends is a payment to shareholders and so falls under equity so by extension falls under the financing section. As dividends reduce the amount of money the company has, it is also a deduction.