1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ksenya-84 [330]
3 years ago
12

If cash received for future services is initially recorded in revenue accounts and the company has not yet performed all of the

required services at the end of the accounting period, then failure to make an adjusting entry will cause
liabilities to be overstated.
revenues to be understated.
revenues to be overstated.
accounts receivable to be overstated.
Business
1 answer:
Aleks04 [339]3 years ago
4 0

Answer:

revenues to be overstated.

Explanation:

The sale recorded is not recognized completely at the end of the year and it been recorded in the revenue account. No adjustment has been performed at the year end to settle this accounting issue. The unearned revenue at the end of year which require the services to be performed in future overstating the revenue and understating the liabilities.

You might be interested in
Suppose that there are only two small countries in the​ world: ascot, with a population of 37 comma 500 ​people, and​ delwich, w
FromTheMoon [43]

Answer: The price of the tied good is $27.

Explanation: The practice of tying is used to package products in such a way that the price of the tied (combined) good is closer to the buyers total willingness to pay for the two goods.

In this case, the total willingness to pay of Carnivore is $20+$7=$27

While, that of Leafygreens is $8+$12=$20

Thus, the producer will sell the combined good at $27 as it will give him more revenue.

8 0
2 years ago
Molen Inc. has an outstanding issue of perpetual preferred stock with an annual dividend yield of 7.50% and a par value of $60.
maksim [4K]

Answer:

10.71%

Explanation:

The computation of the required rate of return on this preferred stock is shown below :

The Required return on preferred stock is

= Dividend ÷ market value of preferred stock

= 7.50 ÷ $70

= 10.71%

By dividing the dividend from the market value of preferred stock  we can get the  Required return on preferred stock and the same is to be considered

therefore we ignored the par value i.e $60 as this is not relevant

5 0
3 years ago
In the New Economy, people are most rewarded through education and intellectual growth when they spend years studying a broad ar
aliya0001 [1]

Answer:

False

Explanation:

The formal education setting has not been changing at the same rate with the daily changes in <em>business</em>, <em>technology</em> and other <em>socio-economic </em>elements.Therefore people who spend years studying a broad array of subjects in formal educational settings are less likely to be rewarded through education and intellectual growth.

7 0
3 years ago
The code that forty-nine states have adopted to interpret and enforce contract law is the _____.
grin007 [14]
<span>The code that forty-nine states have adopted to interpret and enforce contract law is the "Uniform Commercial Code".


</span>The Uniform Commercial Code was published in 1952 and it contains many uniform acts. The nine articles of the UCC is an arrangement of laws overseeing the offer of products, leases of merchandise, debatable instruments, bank stores, support exchanges, letters of credit, mass deals, distribution center receipts, bills of replenishing, investment securities and secured exchanges. As the national economy developed at the turn of the twentieth century, a need to direct business exchanges consistently became important. With the reception of the UCC, organizations and in addition people are secured.
3 0
3 years ago
Read 2 more answers
Problems and applications q6 darnell loves playing rock 'n' roll music at high volume. jacques loves opera and hates rock 'n' ro
mafiozo [28]

Answer:

false

Explanation:

The Coase theorem states that parties in dispute should seek an optimal solution to their problem regardless of how property rights were initially distributed.

In this case, you need to find an agreement that satisfies both Darnell and Jacques regardless of who initially would have been considered to be right about the argument. Conflicts over rights to use property can be solved when parties settle on the efficient use of inputs. E.g. they could establish hours at which Darnell can listen to rock n' roll, and other hours when he shouldn't. That way both of them can enjoy the music they like and not bother the neighbors.

An optimal solution can always be reached regardless of initial distribution of rights.

7 0
3 years ago
Other questions:
  • Distinguish between the benefiets of traditional banking amd the benefiets of online banking
    15·1 answer
  • Frank age 63 is single and provided all of the support for his daughter Anna age 24 and her son Marvin age 6. Neither Anna nor M
    13·1 answer
  • George's T-Shirt Shop produces 8,000 custom-printed T-shirts per month. George's fixed costs are $24,000 per month. The marginal
    5·1 answer
  • In _______________________ arbitration, the arbitrator is not constrained to choose either the management or union's offer(s); r
    15·1 answer
  • Jackson Co. began the year with $20,000 in inventory. During the year, the company purchased $80,000 worth of inventory. At the
    14·1 answer
  • Which cell organelle is most similar in function to an organism’s nervous<br> system? true or false
    10·1 answer
  • Name two advantages offered by a credit union.
    10·1 answer
  • A product whose EOQ is 40 units experiences a decrease in ordering cost from $90 per order to $10 per order. The revised EOQ is:
    8·1 answer
  • Ram said to me "Dont stand up" .(into indirect speech)​
    12·2 answers
  • Question 3 of 10
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!