expectations about behavior and safety norms in the workplace.
Answer:
overstated
Explanation:
Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened.
However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.
Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED
Answer:
Product warrant liability to be reported as on 31.12.2021* is $3.124
<em>*The procedures are attached in a microsof excel document. </em>
Explanation:
This amount will be recognized as a liability only if product warranty amount can be rmeasured reliabily and there is probability that there will be an outflow of funds.
The above is referred as Comparative statements. A comparative statement is an archive that contrasts a specific budgetary proclamation and earlier period articulations or with the same monetary report produced by another organization. Examiner and business supervisors utilize the wage explanation, monetary record and income proclamation for relative purposes.
