I think its B if not B than C most likely
Answer:
C. Your client can’t create an Adjusting Journal Entry.
Explanation:
In QuickBooks Online Accountant you (the accountant) make the adjusting journal entries, not your clients. It is like saying that you operate yourself while your doctor drinks coffee besides your bed.
the other options are wrong:
A. A Journal Entry cannot be used to account for depreciation of an asset. ⇒ FALSE, QuickBooks doesn't automatically depreciate an asset, the user must do this through journal entries.
B. The Accountant user can’t create an Adjusting Journal Entry in QuickBooks Online. ⇒ FALSE, when using QuickBooks Online Accountant you can create adjusting entries just like any other regular entry.
The political cartoon referred to
was by Jeff Parker, has been an editorial cartoonist for Florida Today since
1992. The overall message being conveyed by the referenced political cartoon is
that advertising on school buses could have a negative affect on children.
Certain states in the U.S (e.g. New Jersey, Texas, Massachusetts among others) permit school districts to sell ad space on school buses in order to raise funds for school activities. Some have <span>argued that these ads unfairly target young, impressionable consumers, and as such should be stopped.</span>
Answer:
b. 2018 net income is overstated by $750
Explanation:
As the ending inventory is overstated the COGS will be understated thus, the income was overstate as well. Because the expenses reduced from the sales revenues were lower than correct.
Also we can deduct the same logic considering the accounting equation
Assets = liab + equity
if asssets are 750 higher than it should, then Equiy is higher as well
+750 = +750
Equity is affected for the net income and dividends. Thus, we can also conclude the net income is overstated by 750
