Answer:
$150,000
Explanation:
$150,000
The failure to accrue warranty expense is an accounting error. It gives rise to a Prior period adjustment in the year of discovery (20x3).
Prior period adjustments are limited to corrections of errors affecting prior-year net income. They adjust the beginning balance of retained earnings in the year of correction.
The change in depreciation method is an estimate change, which is reported in earnings. It is not a Prior period adjustmen
Answer: (D) Research and development
Explanation:
In the product synergy system, the each column representing about the opportunity for the efficiency in the research and the development.
The product synergy is one of the concept that helps in explain about the holistic view of an organization where the various types of material and also the energy are get exchange from one unit to another.
The research and the development plays an important role in the industry as it helps in introducing the new innovated products and the services in the market and maintaining the organizational productivity and the bottom line.
Therefore, Option (D) is correct answer.
Answer:
$140 million
Explanation:
Given that,
Ending Retained Earnings = $1,140 million
Beginning Retained Earnings = $1,200 million
Net Income = $80 million
Ending Retained Earnings = Beginning Retained Earnings + Net Income - Dividends
$1,140 million = $1,200 million + $80 million - Dividends
Dividends = $1,200 million + $80 million - $1,140 million
= $140 million
Therefore, the dividend of $140 million were paid to shareholders during the year.
Answer:
c. Record no revaluations, bonus, or goodwill
Explanation:
As new incoming partner is giving more than the investment required it means there is some goodwill or revaluations or bonus involved which requires to be treated in the books otherwise it will be assumed that accounts are not properly reported and capital accounts will not be justified. Third option says no revaluations, bonus or goodwill will be recorded which is wrong.
<u>Answer:</u>
<em>Sold product liability suit against the maker, alleging a design defect, the court may consider an available alternative design
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<u>Explanation:</u>
At the core of the idea of faulty item configuration exemplified in the Restatement (Third) of Torts: Product Liability is the accessibility of a sensible elective plan that could have diminished or kept away from the danger of mischief. In any case, a product might be defective, regardless of whether no sensible elective plan exists, if it neglects to give possible directions or warnings of a predictable danger of damage. An ongoing choice of the Massachusetts Appeals Court represents the use of these standards.
