Answer:
stockholer's equity will be overstated by $800.
Explanation:
The adjustment required is to record $800 of supplies used as an expense, hence, by carrying out the adjustment, net income is overstated by $800 so also retained earnings and shareholders' equity.
In other words,the balance that would be left in supplies is opening balance of $200 plus purchase of supplies which is $950 minus the supplies used.
balance of supplies=$200+$950-$800=$350
Option B is wrong the balance expected is $350 and the balance without adjustment is $200,that is $150 understatement not $350
Unearned revenues are general revenues that Liabilities created when a customer pays in advance for products or services before the revenue<span> is earned
If a client pay us for our service in advance, we now have an obligation to provide services that we must fulfill in the future.
In accounting, we could consider this obligation as a liability which will be recorded in credit when it increased.
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Answer:
Following are the responses to the given question:
Explanation:
I possess good leadership qualities that distinguish me from other potential people. I also strong position in leading groups. In contact I'm fine. I'm nice. I convey my thoughts but also hear everything they have and say quite well in front of others. I am now a logical thinking instructor and make rational and factual decisions. I am supermotard and face a difficult problem while other potential employees may try to avoid problems or challenges and run away from them.
Its business I am employed for is better for me since I could be a great asset for the business which can successfully do any job it could do. For every job or job that my boss provides to me, I'd try my support. I'm timely but good for individuals who are very important to influence and manage. Let us say that I'll be a salesperson so I can influence customers or their selection of purchase by my social skills. I'd use my abilities and close the boss's sales contract.
The federal reserve differ from other depository institutions such that the federal reserve is a decentralized system whle the other depository institutions are separate entities. The reserve has a common goal of effective operation of the U.S. economy and, more generally, operating for the public interest.
Answer:
Total Fixed Assets = 20 million
Explanation:
Total liabilities and equity = $65 million
Current liabilities = $10 million
Inventory = $15 million
Quick ratio = 3 times.
As we know
Total liabilities and equity = Total Assets
65 Million = Total Fixed Assets + Total Current Assets
65 Million = Total Fixed Assets + 45 million
Total Fixed Assets = 65 million - 45 million
Total Fixed Assets = 20 million
Quick Ratio = ( Total Current Assets - Inventory ) / Total Current Liabilities
3 = ( Total Current Assets - 15 million ) / $10 Million
3 x $10 Million = Total Current Assets - 15 million
30 million = Total Current Assets - 15 million
30 million + 15 million = Total Current Assets
Total Current Assets = 45 Million
