Answer:
The Ariana's accounting profit for the year was $6,000
Explanation:
Accounting Profit : The accounting profit is that profit which records the difference of total revenues and total direct cost.
Where,
Total revenues includes sales revenues
And total cost includes monetary cost, etc.
So,
Accounting profit = Total revenues - Total cost
where
Total revenues = 2,000 × $2.5 + 4,000 ×$2.5 = $15,000
Monetary cost = $9,000
So,
Accounting profit = $15000 - $9000 = $6,000
Hence, the Ariana's accounting profit for the year was $6,000
Answer:
90%
Explanation:
According to the study of over 12,000 employees, it is found that 90% has engaged in the workplace with respect to the misbehaviors in terms of goldbricking, sick time abuses, or fraud at lease one time
here goldbricking means working less as your capability as they are more focused to do a personal task
So the correct answer is 90%
<span>World trade refers to the total value of all the exports and imports of the world's nations.</span>
Answer:
Revenues to be understated.
Explanation:
The accrual basis says that revenues are recognized when earned and expenses are recognized when incurred.
In this case, if the legal services have been rendered at the end of the accounting period and no adjusting entry is made there is a situation of understated revenue.
When an accountant says that an amount is understated, it means two things: The amount is not the correct amount, and the amount is less than the true amount.
The adjusting entry that should be done is:
Debit to the liability account Unearned Service Revenue, and a credit to the revenue account Service Revenue.
A company is involved in a lawsuit for which the contingent liability is remote. The liability should be treated on the balance sheet as unrecorded and undisclosed.
On the balance sheet, the liability should be treated in a manner that is unrecorded and undisclosed:
- The balance sheet stands for a financial statement that communicates the book value of a particular organization.
- Contingent liabilities rely upon the outcome of an unlikely event.
- These contingent obligations become liabilities in the future.
- If the contingent liability happens to be remote, then it must not be reflected in the balance sheet.
- The liability should be treated on the balance sheet as unrecorded and undisclosed.
Therefore, if a company is involved in a lawsuit for which the contingent liability is remote then the liability should be treated on the balance sheet as undeclared and undisclosed.
Learn more about liabilities here:
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