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vagabundo [1.1K]
4 years ago
5

The current pay period ends on Friday, January 2, yet the company's fiscal year-end is on Wednesday, December 31. If the company

does not make the proper adjusting entry to accrue payroll expenses at year-end, what would be the impact?
a. Understate assets
b. Overstate operating income
c. Understate stockholders' equity
d. Overstate liabilities
Business
1 answer:
Umnica [9.8K]4 years ago
4 0

Answer:

b. Overstate operating income

Explanation:

According to my research on business financing terms, I can say that based on the information provided within the question the impact of this would be an overstated operating income. This refers to a balance that is documented as having more money than it actually has. This would be the case since the payroll payments have not yet been subtracted.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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An investment firm or fund is a partnership, trust or corporation that “pools” money from shareholders and invests it in the appropriate security instruments and multiply investment money.

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3 years ago
What is the difference between asset management and wealth management
ladessa [460]

Answer:

here is ur answer

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wealth management comes down to what services you need. Asset management is about choosing and managing investments. Wealth management, on the other hand, looks more broadly at a person's financial life and portfolio. Some financial advisors do both, allowing you to hire just one person for the job.

8 0
2 years ago
Scott defines "minority owned" in his study of businesses in Northeastern City as being those businesses that are currently owne
Sphinxa [80]

Answer:

conceptualized

Explanation:

Based on the information provided within the question it can be said that in this scenario Scott has conceptualized the concept of "minority owned". This term refers to when an individual creates an abstract but very simplified view of something. Which in this case he gave the term "minority owned" a simplified definition of being only owned by women or African Americans, when there can be many other minorities in a certain area.

4 0
3 years ago
What is chemical fertilizer? explain with example​
goldenfox [79]

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7 0
3 years ago
Read 2 more answers
Pizza Pier retires its 8% bonds for $70,100 before their scheduled maturity. At the time, the bonds have a face value of $72,100
mariarad [96]

Answer: Please refer to Explanation

Explanation:

DR Bonds Payable ............... $ 72,100

DR Premium on Bonds Payable (74,950 - 72,100) ...... $2,850

CR Cash ...................................... $70,100

CR Gain on Discharge of Bonds ($74,950 - $70,100) $4,850

(To record retirement of premium bond before time)

If you need any clarification do comment.

5 0
3 years ago
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