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
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

You might be interested in
You have $7,600 to deposit. Regency Bank offers 12 percent per year compounded monthly (1.0 percent per month), while King Bank
Goryan [66]

Answer:

Regency Bank : $51,347.27

King Bank : $46,590.99

Explanation:

The formula for calculating future value:

FV = P (1 + r)^mn

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

m = number of compounding

Regency Bank : $7,600 x (1.01)^(16 x 12) = $51,347.27

King Bank : $7600 x 1.12^16 = $46,590.99

8 0
3 years ago
Assume a $1,000 Treasury inflation-protected bond has a 2 percent coupon and a face value at issuance of $1,000. The reference C
Oksana_A [137]

Answer:

The bond has a 2 percent coupon and a face value at issuance of $1000 which is the same with the Treasury inflation-protected bond. However, the reference Consumer Price Index (CPI)  which is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services has increased from 202.34 to 203.18. From this deduction, what I know for certain about this bond is that the interest payment have increased and the coupon rate is still 2 percent.

6 0
3 years ago
The market for gasoline has changed in a couple significant ways over the last few years: new technologies have decreased the co
Phantasy [73]
In economics, supply and demand refers to a relationship between the amount of a ware that producers wish to offer at different costs and the amount that consumers wish to purchase. 
Because of the way that automobiles are ending up more fuel proficient the general impact on the equilibrium cost of gasoline is that there will be a less need of gas required thus the cost will diminish or decrease. According to my thinking, it would be more beneficial to the economy due to the lesser degree a need however it would offer more gas because of the abatement in cost. Society utilizes different things that uses gas other than cars, for example, lawnmowers, tractors, bikes, and so on. So despite the fact that new advancements are diminishing the cost related with creating gas society still deliver items that utilizes fuel every day that will keep on having an impact on the equilibrium price overall.
4 0
3 years ago
Read 2 more answers
Recommend ways in which business can contribute time and effort to advance the well being of others in business context in the f
Alina [70]

<span>1.       </span>Employ a business that caters the needs of people such as owning a gymnasium. That way it improves the quality of life of a person.

<span>2.       </span>Basing on the example above, it does not engage into any harmful practice.

<span>3.       </span>Your decision will depend on increasing the fee of gym users or improving the interior design of your gym

<span>4.       </span><span>It provides support to the employee because they can interact with the gym users and can use the gym too</span>

7 0
3 years ago
Assume that Robin's checking account at Folsom Bank has a balance of $2,000. If Robin withdraws $200 of cash from the bank's ATM
astra-53 [7]

Answer:

c

Explanation:

because he got out 200 from his bank

4 0
2 years ago
Other questions:
  • Candy is trying to decide between two job offers. The compensation package for job A includes a $300 per-month health insurance
    6·1 answer
  • The price elasticity of demand for gasoline in the short run has been estimated to be 0.4. If a war in the Middle East causes th
    11·1 answer
  • Which of the following would not be included in operating assets in return on investment calculations? A) Cash. B) Accounts Rece
    10·1 answer
  • An​ avant-garde clothing manufacturer runs a series of​ high-profile, risque ads on a billboard on highway 101 and regularly col
    11·1 answer
  • The primary objective of expense recognition is to Promote comparability between financial statements of different periods. Prov
    10·1 answer
  • 8. A home inspection performed by a licensed inspector is
    8·1 answer
  • The Peoria Supply Company sells for $30 one product that it purchases for $20. Budgeted sales in total dollars for next year are
    13·1 answer
  • What does a management accountant need to do before he or she can take
    5·1 answer
  • A bond is issued with a $500 face value, a 2% yield, and a maturity of 1 year. If an investor purchases the bond at face value a
    5·1 answer
  • ______ management refers to the activities related to planning for, attracting, developing and retaining an effective workforce.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!