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oksian1 [2.3K]
3 years ago
6

On August 1, Brooks Company received $13,800 for six months of rent in advance. Brooks credited Deferred Rent Revenue. If the ap

propriate adjusting entry is not made at the end of the year, what will be the effect on:
(a) Income statement account
(b) Net Income
(c) Balance Sheet account
Business
1 answer:
SashulF [63]3 years ago
7 0

Answer:

Explanation:

In this question, we assume that the financial year is the calendar year

The financial year is remaining for 5 months whereas the calendar year is remaining for 6 months

So for 5 months, the rent would be treated as income

And for 1 month, it would be treated as a liability

If the appropriate adjusting entry is not made.

So, the effect would be

(a) Income statement account  = Revenue is overstated, expense = no effect

(b) Net Income  = Since revenue is overstated, so net income is also overstated

(c) Balance Sheet account = Assets = no effect, liabilities = understated and retained earnings = overstated

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Because advertising is often designed to add ________ value to a product or brand, it plays a more important communications role
wlad13 [49]

Answer:

The correct answer is Psychological.

Explanation:

Advertising is not only limited to advertisements in magazines, newspapers, radio, television or the Internet. In fact, it is practically in everything around us. The way to place the products in the department stores, the color and size of the potato chip packages, the price of the clothes, the subtlety of the words on the radio ... Everything that makes a product attractive and steals our attention serves as a powerful means to advertise it.

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3 years ago
Paytonics Inc., a microchip manufacturing company, is hiring for the position of marketing manager for its new division. Patrick
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Answer:

The correct answer is letter "D": job specification.

Explanation:

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4 0
3 years ago
"Find the amount of each payment to be made into a sinking fund which earns 7​% compounded quarterly and produces ​$50 comma 000
Elodia [21]

Answer:

Quarterly deposit= $3,182.78

Explanation:

Giving the following information:

A sinking fund earns 7​% compounded quarterly and produces ​$50,000 at the end of 3.5 years.

We need to find the quarterly deposit made at the end of each period.

<u>First, we need to calculate the quarterly interest rate:</u>

Interest rate= 0.07/4= 0.0175

To calculate the deposit, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

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A= (FV*i)/{[(1+i)^n]-1}

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A= (50,000*0.0175)/ [(1.0175^14)-1]= $3,182.78

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3 years ago
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Answer:

Answer for the question:

Harry's competitive math team has been ranked the number one team for the past 40 days. His team competes in a math competition at least once per day and competes in no more than 60 competitions in these 40 days. Show that there is some day $i$ and some day $j$ such that between $i$ and $j$, exactly 19 matches have been played.

is given in the attachment.

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