Answer:
False
Explanation:
The reason is that the leader must always be guider in times of difficulty for the subordinates otherwise it would be more time consuming and would increase the cost to the company. The leaders are always adviced to help and train their team members to increase their productivity because experience and understanding of problem solution brings productivity.
Answer:
$240,000
Explanation:
Let the net income be Y
Accounts payable decreased $21,000 - This will be subtracted from the net profit as a reduction in liability
Prepaid assets increased $15,000 - This will be subtracted from the net profit as an increase in assets
Depreciation expense was $27,000 - This will be added back to net profit as a non cash item
Accounts receivable decreased $21,000 - This will be add from the net profit as a reduction in assets
Loss on sale of a depreciable asset was $16,000 - This will be added back to net profit as a non cash item
Wages payable increased $10,000 - This will be added from the net profit as an increase in liability
Unearned revenue decreased $16,000 - This will be subtracted from the net profit as a reduction in liability
Patent amortization expense was $10,000 - This will be added back to net profit as a non cash item
As such
Y - 21000 - 15000 + 27000 + 21000 + 16000 +10000 - 16000 + 10000 = 272000
Y = 272000 + 21000 + 15000 - 27000 - 21000 - 16000 - 10000 + 16000 - 10000
Y = $240,000
Answer:
overstated
Explanation:
Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened.
However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.
Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED
<span>The permanent school fund is managed primarily by what entity? The state and board of education. The state will determine what schools receive funding based on different attributes that each have. Depending on the size of the school, student body and teachers, the programs the school has and where the money is needed (possible expansions) allows for funding to be dispersed appropriately. </span>
Based on accounting principles, Simar Sales Co. sells and installs kitchen appliances. Simar guarantees parts and labor for one year after installation. Simar would record potential claims in a(n) <u>Warranty Liability account</u>.
This is because a <u>Warranty Liability</u> <u>account</u> is a type of account that is established to record the number of the repair or replacement costs that a company expects to incur for commodities already shipped or services already conducted.
Warranty Liability account or Estimated Warranty Liability account are used mostly by firms that offer products that have warranty periods.
Hence, in this case, it is concluded that the correct answer is a Warranty Liability account.
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