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alexgriva [62]
3 years ago
10

Ballou Corporation declared a cash dividend on December 13, 2018, payable on January 10, 2019. By mistake, the company failed to

make a journal entry in December 2018. The effect of this error on the financial statements as of December 31, 2018 were:_____.
a. retained earnings was overstated and liabilities were understated.
b. retained earnings was overstated and cash were understated.
c. retained earnings and liabilities were both understated.
d. retained earnings and liabilities were both overstated.
Business
1 answer:
sertanlavr [38]3 years ago
5 0

Answer:

a. retained earnings was overstated and liabilities were understated.

Explanation:

Since in the cash dividend is declared also the same is not recorded by the company

So this error would impact the two account i.e. retained earnings and the liabilities

In this, the retained earning is overstated and the liabilities were understated

Therefore the correct option is a.

And, the rest of the options are wrong

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Answer:

E. Shifting from a multi-country to a global strategy.

Explanation:

  • The process of diversification allows the firms to reap the competitive advantages as the benefits of the skills and transfers, low costs economies of scope.  
  • Cross boundaries used by the powerful brands and collaboration in the creation of stronger and competitive capabilities.
  • A diversified firms thus look for a global strategy to spread its risks and establish its business and develop its main strategic alternatives.  
  • The diversified firms hence have ample market opportunities and thereby brain the scope of the business.
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Answer:

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You bought some shares of stock and, over the next year, the price per share increased by 5 percent, as did the
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Answer:

<u>d. a nominal gain, but no real gain, and you paid taxes on the nominal gain. </u>

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The contribution margin ratio is:_______.
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65% of 70 what is the answer to this equation?
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Read 2 more answers
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