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2 years ago

What is the accounting problem that the linbarger company faces?

2 answers:

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]2 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.

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Answer:

The answer is below

Explanation:

EBIT is known as an accounting measure to determine the profit level of a firm. It is an acronym of Earnings Before Interest and Taxes.

EBIT is generally considered to be independent of financial leverage because EBIT is the result of a firm’s operating effectiveness.

This is true because, EBIT is based on the firm's level of sales and cost of operation, of which financial leverage has no effects on it.

However, with excessive debt levels, EBIT might be influenced by financial leverage.

This implies that even though the financial leverage of a firm has no direct influence on EBIT, in a situation whereby a firm is operating at huge deficits, every aspect of the film will be concerned. This will include staff, customers, investors, and operational activities, thereby affecting the firm's sales and cost of operation. As a result, this will ultimately affect the firm's EBIT.

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2 years ago

Assume a single taxpayer is taxed at 10% on the first $9,275 of taxable income, 15% on the next $28,375 of income, and at 25% fo

Ksenya-84 [330]

Answer:

14.93%

Explanation:

Given:

For taxable income $9,275, tax rate = 10%

For taxable income $28,375, tax rate = 15%

For taxable income $53,500, tax rate = 25%

Now,

Tax on income = tax rate × taxable income

thus,

Total Tax on first $9,275 = $9,275 × 10% = $927.5

and,

Total tax on next $28,375 = $28,375 × 15% = $4,256.25

Therefore, the total income that has been taxed till the $9,275 + $28,375

= $37,650.

and, the amount left to be taxed = $42,000 - $37,650 = $4,350

Thus,

Tax on remaining $4,350 = $4,350 × 25% = $1,087.5

Total tax = $927.5 + $4,350 + $1,087.5 = $6,365

Therefore,

The average tax rate = $\frac{\textup{Total tax}}{\textup{Taxable income}}\times100$

The average tax rate = $\frac{6,365}{42,000}\times100$

Average tax = 14.93%

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2 years ago

The CEO of TruTone Manufacturing tells her executive management team that the company must become more agile to stay competitive

fomenos

The statement "I believe that we need to organize around our primary strengths and expertise" complete part is: core capabilities.

<h3>What is core capabilities?</h3>

Core capabilities can defined as the ability to put into use the skills, knowledge you have developed so as to achieve your set goals and objectives.

A company or organization that want to have an a competitive advantage over other companies, the employers of that company must possess core capabilities as this will enables them to stay competitve.

Inconclusion the complete part of the given statement is: core capabilities.

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2 years ago

Wildhorse Co. began the year 2022 with retained earnings of $651000. During the year, the company sold additional shares of stoc

Volgvan

Answer:

$1,800,000

Explanation:

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

Ending retained earnings = Beginning retained earnings + additional stock issued + net income - dividend paid

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2 years ago

What is home equity?

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3 years ago

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