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Mamont248 [21]
3 years ago
7

If a journal entry and posting for the use of one month of rent from the prepaid rent account during the year is accidently omit

ted, what would be the impact on the financial statements
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
4 0

Answer:

Expenses will be understated, hence, Net Income will be overstated.

Rent prepaid will be overstated, hence, current assets will be overstated.

Explanation:

Ordinarily, rent prepaid is meant to be credited every month to the tune of the the value that has been consumed and then added to period expenses to reduce net income.

In the statement of Financial Position, the same amount that has been consumed should be used to reduce balance in rent prepaid account, otherwise, current assets will be overstated if no adjustment is made.

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An organization looking for general agreement on ethical practices might take what step?
Kisachek [45]

An organization looking for general agreement on ethical practices might:<u> establish an ethical code of conduct.</u>

<h3>What is establish an ethical code of conduct?</h3>

Ethical code of conduct can be defined as a set of guidelines, policy, rules and regulation that a person is expected to follow and abide by in an organization.

This code of conduct enables us to know the organization norms and values as well  what is right and what is wrong which in turn means that it enables us to know the right things to do and thing to to avoid.

The code of conduct encourage ethical act which is to be honest and to have integrity among others and as well discourage unethical behavior in an organization which is why most organization has ethical code of conduct that enables their employee or workers to known the ethical ways they should behave.

Therefore an organization looking for general agreement on ethical practices might:<u> establish an ethical code of conduct.</u>

Learn more about establish an ethical code of conduct here:brainly.com/question/28465686

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2 years ago
In the video, Mike Boyle talks about establishing a work environment that motivates employees to do great work. List two or thre
Alex787 [66]

Answer:

Explanation:

the list of specific ways through which Mr. MB can establish the work environment which can motivate the employee in his gym are as follows;

Mr. MB can emphasize on the importance of creating effective work environment that motivate employees to work properly.

Mr. MB can develop strength program for employees.

Mr. MB can also introduce the proper sessions of new training technique and workout program for employees.

Education helps in the employee motivational and job enrichment in an effective way. It helps the employees by giving them opportunity to establish their skills. It also helps in enhancing their knowledge and progress through their position in the company. These knowledge and skills helps the employer gaining effective workforce. Education also provides some effective guideline that the employees or employer should follow.

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Answer:

For this situation, Answer will be (A).

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Explanation:

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Which item is a benefit of using the travel card?
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Using a travel card hinders a traveler or adventurer from being forced to use their own cash for authorized travel expenditures. Having a travel card gives you many benefits. Using a travel card is a widespread, useful and safe method nowadays, to purchase overseas currencies and take it out of the country. A travel card can be stress-free and more secure than bringing cash or traveler’s cheques, for the reason that you can preload a card with a distinct currency or numerous, depending on your travel ideas.

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