NO because even if you can drive and you now the rules you need an amount of maturity and quick reflexes. We should not be able to drive until 18 years old because that's when we become an adult and we can actually drive without getting in a car accident.
Answer:
The multiple choices are :
a. $0
b. $ 4,000 overstated
c. $ 4,000 understated
d. $10,000 understated
The correct option is A,$0
Explanation:
Working capital in the resources used in running the business on day to day basis.
It is more of an operational capital in the business such as the cash,inventory and some other liquid resources.
The formula for working is current assets minus current liabilities.
The working capital would not be impacted since understatement or overstatement in inventory in one year reverses in the second year.
The overstatement of ending inventory of $6,000 in 2014 would lead to understatement of closing inventory in 2015,while the overstatement in 2015 would be reversed in 2016.
Answer:
a. True
Explanation:
When an asset is purchased with Cash, the entries are debit to fixed assets and credit to cash. Depreciation is not recognized until the asset has been put to use.
To determine net income, depreciation and amortization expenses are deducted as expenses from the revenue.
Hence in the determination of Cash flows from operating expenses, such non-cash items that were deducted will be added back.
Answer:
b.net loss
Explanation:
A debit entry in the retained entry account may have two reasons dividend declaration entry and net loss adjustment entry. Form the dividend account we see there is no dividend entry of $18,000. So the only option is the net loss adjustment entry of $18,000.
Journal Entry for the adjustment is as follow
Dr. Retained Earning $18,000
Cr. Income Summary $18,000
Answer: Functional Structure
Explanation: Leslie should look for a position in a firm with a functional structure, in order for her to gain full in-depth knowledge in her area of specialty Corporate Tax.
An organization with functional structure is one which assign it's employees to job roles which are specifically their areas of specialization.
