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lana [24]
3 years ago
13

At March 31, the end of the first month of operations, the usual adjusting entry transferring prepaid insurance expired to an ex

pense account is omitted. Which items will be incorrectly stated, because of the error, on (a) the income statement for March and (b) the balance sheet as of March 31? Also indicate whether the items in error will be overstated or understated.a. Income StatementInsurance Expense SelectOverstated or UnderstatedNet Income SelectOverstated or Understatedb. Balance SheetPrepaid Insurance SelectOverstatedUnderstatedCorrectItem 3Stockholders' Equity
Business
1 answer:
babymother [125]3 years ago
6 0

Answer:

A and B

Explanation:

A) income statement

insurance expense-understand net income-overstated

B) balance sheet

prepaid insurance -overstated stockholders equity -overstated

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Characteristics of just-in-time partnerships do NOT include: long-term contracts. removal of in-transit inventory. large lot siz
otez555 [7]

Answer: large lot sizes to save on setup costs and to gain quantity discounts.

Explanation:

Just in time is the kind of system where your material or component arrives just when you require them and does not take up time. This is helpful in saving storage cost. Just in time however, does not include large lot sizes to save on setup costs and to gain quantity discounts.

8 0
3 years ago
Nika wants to borrow some money from the bank and needs to determine her net worth. she has a car worth $3,400 and has $400 in h
Llana [10]

Answer:

$3200

Explanation:

Net worth is the value of an individual's or an organization's assets after subtracting liabilities.  Net worth is, therefore same as net assets.

Nika's net worth is the value of her assets minus liabilities. Assets being the things she owns, while liabilities are what she owes.

Nika's assets = Cars $3400, cash $400,

Total assets = $3,800

Liabilities = car debts $600

Net worth =$3800 -$600

=$3200

6 0
3 years ago
_____ laws give only the creator exclusive rights, meaning no one else can reproduce, distribute, or perform the literary and ar
adell [148]
The answer is copyright laws. It is because the copyright laws is where a creator is somewhat protected his or her properties such as works, articles, artworks and people who used his or her works without his or her permission will be held liable.
8 0
3 years ago
Below is a list of prices for zero-coupon bonds of various maturities. Maturity (Years) Price of $1,000 Par Bond (Zero-Coupon) 1
Lynna [10]

Answer:

6.997%

Explanation:

To find the answer, we use the Yield to Maturity (YTM) for a Zero Coupon Bond:

YTM = [(F/PV)^1/n] - 1

Where:

F: Face/Par value (the question is telling us that the par value of a 3-year bond is $816.367)

PV: Present Value (which is the same as the price: $1,000)

n: number of periods (in this case 3 years because the coupon is annual)

Now, we plug the amounts into the formula:

YTM = [($1,000/$816.37)^1/3]-1

YTM = 6.997%

7 0
3 years ago
Which statement is most accurate?
Feliz [49]
D. Market failure is an unproven hypothesis
4 0
3 years ago
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