All categories

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.

Related links:

Learn more about evolution on

brainly.com/question/10925741

brainly.com/question/11093021

You might be interested in

The city of Brock’s Water Enterprise Fund leases water treatment equipment. The life of the noncancellable lease is 10 years, an

Degger [83]

<u>Solution and Explanation:</u>

The Journal Entries in the books of Brock's water enterprise is as follows :-

Date Particulars and details Debit($) Credit($)

Jan 5, 2018 Intangible Assets - Lease 905861

Lease Payable 905861

(Being Record the Lease)

Jan 5, 2018 Lease Payable 125000

Cash 125000

(Being Record Down Payment)

Dec 31, 2018 Amortization Expenses ($905861divide 10) 90586

Accumulated Amortization 90586

(Being Record the amortization)

Jan 5, 2019 Lease Payable $(\$ 125000-\$ 62469)$ 62531

Interest Expenses $((\$ 905861-\$ 125000) * 8 \%)$ 62469

Cash 125000

(Being Record the Second Lease Payment)

3 0

2 years ago

A team has been established to solve a problem with an industrial adhesive used by the firm. The three members are the installe

Mama L [17]

Answer:

Self-managed

Explanation:

Self managed team is management concept wherein group of diverse skill people are expected to work on their own without any supervision. This ensures collective accountability for any task undertaken. Employees have freedom to take their own decision. Self managed team concept is being implemented in organization with aim of increasing productivity, efficiency, cost saving and increased employee satisfaction.

5 0

2 years ago

What is the present value on January 1, 2016, of $30,000 due on January 1, 2021, and discounted at 12% compounded annually?What

ale4655 [162]

Answer:

1. Future Value = 30,000

Rate = 0.12

Annual period, NPER = 5

Present value, PV = PV(0.12, 5,0,-30,000 ,0)

Present value, PV = $17,022.81

2. Future value = 8,000

Quarterly rate = 16%/4 = 4%

Number of quarters, Nper = 4.5*4 = 18

Present value, PV = PV (4% , 18, 0, -8,000 , 0)

Present value, PV = $3,949.02

3. Future value = 8,000

Annual rate = 0.1

Annual period, Nper = 5

Present value, PV = PV(0.1, 5, 0, -8000, 0)

Present value, PV = $4,967.37

Present value Discount = 8,000 - 4,967.37

Present value Discount = $3,032.63

5 0

2 years ago

Read 2 more answers

10% of the facility and increase the overall costs of maintaining the space by 11%. If the incremental method were used, what am

xz_007 [3.2K]

Answer:

the cost that allocated to the start up business is $61,600

Explanation:

The computation of the amount of the cost that allocated to the start up business is given below:

= Manufacturing facility costing × maintaining the overall cost percentage

= $560,000 × 0.11

= $61,600

Hence, the cost that allocated to the start up business is $61,600

We simply applied the above formula so that the amount could come

3 0

2 years ago

Which of the following is an example of typosquatting? Group of answer choices A start-up investment company assumes the online

TiliK225 [7]

Answer:

An environmental support group creates a spoof of the advertisement of a popular beverage company, highlighting its degradation of the environment by releasing waste products into the water bodies near its bottling plant.

Explanation:

An example of typosquatting is an environmental support group creates a spoof of the advertisement of a popular beverage company, highlighting its degradation of the environment by releasing waste products into the water bodies near its bottling plant.

5 0

1 year ago