Answer:
Yes this statement was an error and its effect on financial statements of Woods will be that asset ( equipment in this case) would be overstated and obviously the net income of the company would also increase.
Explanation:
Here Woods accountant has made the error of debiting the cost of $500 on the asset account ( equipment) , which shouldn't have happened as the asset accounts have natural debit balance which means that when an amount is debited to the asset account it will increase the value of the asset.
So therefore here we can say that the asset here is overstated and if the assets are shown overstated it is natural that the income reflected would also be overstated.
Answer:
publicity
Explanation:
Publicity involves creating an excellent reputation for a company's brand name. Publicly arises from positives messages from the media, and other sources such as the internet and word of mouth. An organization engages in activities that create a good relationship with the media and the public to build the desired publicity.
Publicity messages are not paid for, unlike advertising. In the case of Maddie, the business was engaged in a charitable event. The event was captured in the press, and Maddie brand name was mentioned, thus promoting its brand name.
<span>Yes
because the AICPA standard for due care does not require CPAs to be infallible.
Since the definition of infallible means incapable of making a mistake. Which
this is not necessarily true. CPAs are capable of making mistakes and as long
as they performed their work with professional due care then they cannot be
held accountable for mistakes that may have happened. </span>
The answer would be 187.50
250 $ for 20 friends would be $12.50 per friend. So, 12.5 x 15 = $187.50
