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
Ray, a manager at Senzel Inc., wants to implement a new software in the company's processes. This software will help him monitor
Airida [17]

Answer:

C . Consulting

Explanation:

Ray, a manager at Senzel Inc. is utilizing consulting skills.

The lower-level managers he discusses with in order to understand the effect the software will have on the internal environment of the company refers to the CONSULTANT in this scenario.

Consulting can be defined as the process of giving advice or seeking the help of professionals regarding a particular subject in a specific field.

Consulting means to engage in the business of giving advice to professionals in a particular field.

Consulting is the act of helping people to solve problems of moving from their current level to their desired level.

A consultant refers to a professional who renders the service of giving advice to people in a particular field mostly in exchange for a fee.

4 0
3 years ago
Which option identifies the type of budget development represented in the following scenario?
Alexus [3.1K]

Answer:top approach

Explanation:

4 0
2 years ago
Which two of the three financial statements would you find Net Income on?
xxTIMURxx [149]

Answer:

C) Income Statement and Cash Flow Statement

Explanation:

The Income Statement shows a clear separate entry for the Net income which is calculated after all the deductions and additions.

Net Income is the first balance shown on the cash flow statement after which the calculations are carried out to find the flow of cash in and out of the company.

Net income is also shown in the Balance Sheet but not separately but together with retained earnings. It is added to the retained earnings and the amount is shown as a whole amount of retained earnings  or shown as a change in equity.

So best answer is C because the question asked is where would you find Net Income on?

Meaning separately. So it is separately present on Income Statement and Cash Flow Statement.

Otherwise it is present  on all three statements ( on balance sheet as part of retained earnings or equity).

6 0
3 years ago
A keynote speaker was known for his many speaking engagements, but now he has limited time and a rational mind. Even he would ev
yawa3891 [41]

Answer: B. the additional enjoyment of one more speaking engagement (the marginal benefit) is rising.

6 0
3 years ago
E-commerce offers entrepreneurs an opportunity to _____
viktelen [127]

E-commerce offers entrepreneurs an opportunity to <u>utilize the</u><u> interactive </u><u>nature of the</u><u> Internet</u><u> to help their businesses grow.</u>

<u />

<h3><u>What Exactly Is Electronic Business (E-Business)?</u></h3>

Ecommerce is the name given to companies and individuals who conduct business online. E-commerce can operate in a range of market sectors and be performed on computers, tablets, cellphones, and other smart devices. Nearly any product or service imaginable is now available through e-commerce transactions, including books, music, airline tickets, and financial services like stock trading and online banking. It is considered a very disruptive technology result.

<u>What are the advantages and disadvantages of doing business online?</u>

The benefits of e-commerce for customers include:

  • Convenience
  • Increased selection
  • Perhaps lower startup costs
  • International sales
  • Easier to target customers again.

But e-commerce websites also have some disadvantages. The negatives include:

  • Limited client service
  • Lack of immediate gratification
  • Unable to touch products
  • Reliance on technology
  • Greater competition.

Learn more about E-commerce with the help of the given link:

brainly.com/question/14157556

#SPJ4

7 0
2 years ago
Other questions:
  • as discussed in your reading material,the word nature in the "nature versus nurture" argument refers mainly to
    7·1 answer
  • Pharoah Company began operations in July 2020. At the end of the month, the company prepares monthly financial statements. It ha
    7·1 answer
  • On January 1, 2020, Pina Corporation sold a building that cost $263,240 and that had accumulated depreciation of $101,140 on the
    10·1 answer
  • Burger Boy Restaurant Corporation allows its trademark to be used as part of a domain name for BurgerBoyNY, Inc., an unaffiliate
    7·1 answer
  • Why is it necessary to maintain a fixed asset register and what does it enable you to do? ​
    10·1 answer
  • Choose all answers that apply.
    11·2 answers
  • Colicchio Corporation acquired two inventory items at a lump-sum cost of $60,000. The acquisition included 3,000 units of knife
    11·2 answers
  • Document for Analysis: Improving a Negative, Discourteous, and Unprofessional Message (L.O. 4, 5) Communication Technology E-mai
    6·1 answer
  • What affects the egg coagulation in custards and creams!
    11·2 answers
  • An employee who is responsible for planning, directing, and monitoring the work of other employees is a ________.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!