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Roman55 [17]
3 years ago
13

If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting period, the financial stat

ements prepared at that time would show: Select one: a. Assets overstated and equity understated. b. Assets and equity both understated. c. Assets overstated, net income understated, and equity overstated. d. Assets, net income, and equity understated. e. Assets, net income, and equity overstated.
Business
1 answer:
gayaneshka [121]3 years ago
8 0

Answer: Assets, net income, and equity overstated.

Explanation: Depreciation can be defined as the decline in value of assets.

A mistake to record depreciation which is the decline in value in asset will significantly affect the account records. If the asset in a financial record is overstated, the net income and equity are also overstated because the asset is used in calculation of net income and equity.

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The payment represents rent for the years 2022 and 2023, the period covered by the lease. Kraft Company is a cash basis taxpayer
anygoal [31]

Answer:

Don't know the answer but gl

Explanation:

just neeed to use the app for answer hope you have a good day ;]

5 0
3 years ago
A company has revenue of $1000 in 2009. Our current estimate is that revenues will grow 25% per year. Our profit each year will
Dominik [7]

Answer:

85.3%

Explanation:

since profits = 20% of total revenue, so total revenue = $15,000 / 20% = $75,000

That means that total revenue must grow from $1,000 to $75,000 in just 7 years. We can use the future value formula to determine the growth rate:

future value = present value x (1 + r)ⁿ

$75,000 = $1,000 x (1 + r)⁷

(1 + r)⁷ = $75,000 / $1,000 = 75

⁷√(1 + r)⁷ = ⁷√75

1 + r = 1.853

r = 1.853 - 1 = 0.853 = 85.3%

7 0
3 years ago
an oligopolist has a marginal revenue curve that jumps down at 500 units of output. what kind of oligopoly does the firm most li
STALIN [3.7K]

The marginal revenue curve of an oligopolist begins to decline after 500 units of output. Which type of oligopoly does Sweezy's company most likely operate under?

A market system known as an oligopoly occurs when a small number of important sellers or manufacturers dominate a market or an industry (from the Greek words oligos, "few," and v, polein, "to sell"). The result of corporate cooperation to boost profits is typically oligopoly. Numerous industries have been identified as being oligopolistic, including commercial aviation, power providers, telecommunications companies, rail freight markets, food processing, funeral services, sugar refining, beer production, pulp and paper manufacture, and auto manufacturing. Because of the decreased competition, consumer prices would increase and labour earnings will decrease.

Learn More About oligopoly:

brainly.com/question/14285126

#SPJ4

6 0
2 years ago
The U.S. unemployment rate moves up and down as the economy moves in and out of recessions. But over time, the unemployment rate
crimeas [40]

Answer:

c.4%

Explanation:

Based on the information provided within the question it can be said that the unemployment rate fluctuates but over time, always returns to a range of around 4%. Throughout history in the United States of America the unemployment rate has gone up and down with the times but always returns to normal. This normality is usually 3.9% with the lowest lately having been 3.6% in September of 2019.

7 0
3 years ago
A corporation has issued 30,000 shares of $50 par common stock and holds 5,000 of these shares as treasury stock. If the corpora
Andrews [41]

Answer:

The amount of $25,000 will be recorded as the Cash Dividends

Explanation:

The amount which is to be recorded as the cash dividend is computed as:

Cash Dividend = Number of Shares × Rate per share

where

Number of shares is computed as:

Number of shares = Issued Shares - Treasury Stock

= 30,000 - 5,000

= 25,000

NOTE: No dividend is paid on treasury stocks, so the the shares of the treasury stocks are subtracted.

Rate per share is $1

SO, Putting the values above:

Cash Dividend = 25,000 × $1

= $25,000

3 0
3 years ago
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