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valentinak56 [21]
3 years ago
12

What is the accounting problem that the linbarger company faces?

Business
2 answers:
julsineya [31]3 years ago
7 0
The problem that Linbarger company faces is that they do not have enough liquid cash in order to fulfill the promise that they made in their loan contracts.
If this happen, they might be subjected to a breach of contract and the other party has the legal ground to attack Linbarger to the court and potentially close them down.
4vir4ik [10]3 years ago
4 0

The issue that Linbarger organization countenances is that they need more fluid money so as to satisfy the guarantee that they made in their credit contracts.  

Further Explanation:  

Accounting problem:  

A bookkeeping blunder is a non-fake inconsistency in money related documentation. The term is utilized in money related revealing. Sorts of bookkeeping blunders include: Error of exclusion - an exchange that isn't recorded. Mistake of commission - an exchange that is determined mistakenly.  

Accounting problem be corrected:

1. Correct all earlier period budget summaries appeared on relative fiscal reports.  

2. Restate the starting parity of held profit for the main time frame appeared on a similar proclamation of held income if the blunder is before the primary near period.  

Five Common Accounting Mistakes and How to Avoid Them:  

1. Timely Reconciliations. Accommodating asset report accounts, for example, bank and charge card accounts, at any rate month to month is essential to an independent venture's prosperity.

2. Data Entry Errors.  

3. Lack Of Documentation Procedures.  

4. Procrastination.  

5. Not Seeking Help When Needed.

Subject: business

Level: college

Keywords: Accounting problem, Accounting problem be corrected, Five Common Accounting Mistakes and How to Avoid Them.

Related links:

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brainly.com/question/10925741

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The correct answer is B.

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Have a nice day!

7 0
3 years ago
In july, lane co. Sells merchandise to avery co. On account. In august, avery pays the balance in full. The entry that lane will
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The entry that lane will make to record the receipt of cash will include a credit to the Accounts Receivable account.

<h3>What is Accounts Receivable?</h3>

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It refers to the money that the customer owe to the company for the goods or services that they have already received but not yet paid for.

For example- Goods purchase on credit by ABC, the amount gets added to the accounts receivable.

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6 0
1 year ago
What does the owner of a miniature golf business provide her customers with?
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Answer:

golf clubs

Explanation:

4 0
3 years ago
For each error below, indicate:
patriot [66]

Answer:

1. Inventory account will be affected and assertions of accuracy and valuation will be violated.

2. Assets are overstated and assertion classification is violated.

3. Liability is understated and assertions of accuracy is violated.

4. No impact.

Explanation:

Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.

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3 years ago
Select the correct answer.
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Answer:

A.true hope this helps sorry if I'm wrong have a wonderful day

7 0
3 years ago
Read 2 more answers
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