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3 years ago

If an adjustment for $7,500 in accrued revenues is omitted, how will this affect the financial statements?

1 answer:

7 0

The right answer for the question that is being asked and shown above is that: "<span>c. Accounts Receivable will be overstated by $7,500. " </span>If an adjustment for $7,500 in accrued revenues is omitted, the affect that the financial statements is that a<span>ccounts Receivable will be overstated by $7,500. </span>

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Qucation

RUDIKE [14]

As a result of the record amount of grapes, the equilibrium price decreases while the equilibrium quantity increases. Please find attached the required graph.

<h3>What is the impact of the record amount of grapes?</h3>

If there is a record amount of grapes produced, the amount of wine produced would increase. This is because grapes are an input used in the production of wine.

As a result, the supply of wine would increase. This would lead to a shift to the right of the supply curve for wine. the equilibrium price decreases while the equilibrium quantity increases.

To learn more about supply curves, please check: brainly.com/question/26073189

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2 years ago

To be a kindergarten teacher do you need university

Veronika [31]

There are no specific kindergarten teaching degrees (or kindergarten teaching courses), public school kindergarten teachers are required to haev at least a bachelor's degree in education. These professionals ordinarily major in elementary or early childhood education in a bachelor's degree program.

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3 years ago

The owner of a bicycle repair shop forecasts revenues of $212,000 a year. Variable costs will be $63,000, and rental costs for t

Nataly [62]

Answer:

Sales Revenue 212,000

Variable Cost (63,000)

Rent Expense (43,000)

Depreciation Expense (23,000)

Income before taxes 83,000

Income tax expense <u> (16,600) </u>

Net Income 84,800

Cash from operating activities 107,800

tax-shield from depreciation 4,600

Explanation:

Cash flow from operations (indirect method)

net income 84,800 + depreciation expense = 107,800

The depreciation provides a tax shield as they are an accounting concept. The depreciation expense did not involve the outflow of cash but, it is a taxable deduction therefore generates a tax-shield.

23,000 x 20% = 4,600

7 0

4 years ago

Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of

guajiro [1.7K]

Answer:

Decrease by $132,100

Explanation:

Computation of the given data are as follow:-

We can calculate the Operating Income by using following formula:-

Fixed Cost = Fixed Cost * Dropped Rate

= $193,000 * 30/100

= $57,900

So, Operating Income = Sales - Variable Cost - Fixed Cost

= $,1050,000 - $860,000 - $57,900

= $132,100

According to the Analysis, the operating income will be decrease by $132,100 if the business segment is eliminated.

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3 years ago

Mary never liked math and did poorly. when she decided to think ofit as a fun challenge, her performance improved. this is an ex

d1i1m1o1n [39]

This is an example of a change in perception.
Once she changed the way she looks at the problem, the problem instantly changed, or rather, disappeared, in Mary's case. She doesn't view math as a terrible chore anymore, but rather as a fun challenge, which means that her perception of math changed.

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3 years ago