Answer:
Net income is overstated by $28,000.
Explanation:
As the company forget to make the adjustment entry it didn't recognize any expense for the expired insurance.
From September to December 31th 4 month of insurance has expired:
42,000 x 4 month/6 months = 28,000 insurance expense
as the expense weren't post the income statement is overstated along with the assets of the company as it doesn't have a prepaid amount for 42,000 but for 14,000
Answer:
$502,000
Explanation:
The computation of the total income is shown below:
= Book income + Interest expense on the debt incurred to carry the municipal bonds + federal income tax expense - municipal bond interest income
= $380,000 + $2,000 + $170,000 - $50,000
= $502,000
We simply added the interest expense on the debt and the deferral income tax expense and deduct the municipal bond interest income to the book income so that the taxable income could find out.
Answer:
The correct answer is Deviant workplace behavior.
Explanation:
The deviation can be defined as any behavior that is not in accordance with the expectations of society or of a particular group of society or of a particular group within it. Deviation is a distancing from the norm and occurs when an individual or a group of individuals do not share the patterns of society. Generally, we get used to considering deviation in terms of behavior that has been judged negative, such as crime or insanity. However, the individual who excels or exceeds widely the patterns of a society can be considered equally deviant.
The social norms that exist within a culture defend deviant behavior. An act may be appropriate and acceptable in a given situation, while it is considered improper and unacceptable in a different situation. For example, the police officer who shoots and kills a fugitive killer as a last resort (it is an act of self-defense) may receive a mention of merit for its value. Despite the criminal who shoots and kills a person during an assault, he is subject to one of the most severe penalties contemplated by law. Both acts are diverted since each represents a distancing from the norm.