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vagabundo [1.1K]
3 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]3 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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The real interest rate is equal to the:_________
ahrayia [7]

Answer:

D. nominal interest rate minus the inflation rate.

Explanation:

The real interest rate has been adjusted for inflation.

If nominal interest rate is 6% and inflation is 2%, then the real interest rate would be 4%.

I hope my answer helps you

4 0
3 years ago
Forms of Business Organization
chubhunter [2.5K]

Answer:

<h2>Forms of Business Organization </h2>

1. The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a firm's legal structure affects its operations.

The main forms of business organizations are: (1) proprietorships, (2) partnerships, (3) corporations, and (4) limited liability companies (LLCs) and limited liability partnerships (LLPs). In terms of numbers, most businesses are______proprietorships_. However, based on the dollar value of sales, most business is done by_corporations____.

Businesses are frequently started as__Limited Liability Companies____and then converted to_Corporations_____when their growth results in disadvantages outweighing advantages.

2. A proprietorship has three important advantages: (1) It is easily and inexpensively formed, (2) it is subject to_less____government regulations, and (3) it is subject to lower income taxes than are_corporations_____.

However, a proprietorship also has three important limitations: (1) A proprietor has_unlimited_____personal liability for the business' debts. (2) The life of the business is limited to the life of the individual who created it. (3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.

3. A partnership has two important advantages: (1) It is easily and inexpensively formed and (2) its income is allocated on a pro rate basis to partners and taxed on a(n)_individual____basis so the partnership avoids higher_corporate____income taxes. A partnership has four important disadvantages: (1)_Unlimited_____personal liability, (2)_Limited____life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital.

4. A corporation has the following advantages: (1)_Unlimited____life, (2) ownership that is easily transferred through the exchange of stock, (3)_Limited____liability, and (4) can_easily_____raise large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to_corporate_____taxation and (2) setting up a corporation and filing required state and federal reports is complex. Large corporations are known as C corporations. However, as an aid to small businesses Congress created S corporations.

5. Limited liability corporations (LLCs) and limited liability partnerships (LLPs) have limited liability protection like_corporations_____but are taxed like__proprietorships____. Investors in an LLC or LLP have votes in proportion to their ownership interest. LLCs and LLPs have been gaining in popularity, but large companies still find it advantageous to be_formed into_____corporations because of advantages in raising capital for growth.

Explanation:

The above are forms of business organization through which investors can realize their investment dreams.

6 0
3 years ago
Six equal annual contributions are made to a fund, with the first deposit on December 31, 2019. Required: Using the future value
Tasya [4]

Answer:

The answer is $3,888.22

Explanation:

This is an annuity due because the cash flow is being done on the first day of each period.

Annuity is a fixed sum of money paid to or receceived from someone or business every year.

Future Value(FV) = $30,000

Interest rate(i or I/Y) = 10%

Number of years(N)= 6 years

Annuity (PMT) = ?

Using a Financial calculator to solve it (Texa BA II Plus )

Annuity (equal contributions) will be $3,888.22

6 0
3 years ago
Current ratio of 3.4 and an acid-test ratio of 2.8. The corporation's current assets consist of cash, marketable securities, acc
Sav [38]

Answer:

$30,000

Explanation:

The computation is shown below:

As we know that

Current ratio = Current assets ÷ Current liabilities

Current assets = 3.4 × Current liabilities

Now the

Acid-test ratio = Quick assets ÷ Current liabilities

2.8 = Currents assets - inventory  ÷ Current liabilities

2.8 = 3.4 × Current liabilities - $18,000 ÷ Current liabilities

2.8 × Current liabilities = 3.4 × Current liabilities - $18,000

After solving this, the current liabilities is $30,000

7 0
3 years ago
I need help with Accounting homework. I am not understanding it
PtichkaEL [24]

Answer:

ok

Explanation:

send the home work we help you

8 0
3 years ago
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