Answer:
Revenue is understated by $1520
Profit is understated by $1520
Accounts receivable is understated by $1520
Retained earnings is understated by $1520
Explanation:
The guideline on recognition of revenue is accrual basis of accounting, which is that revenue is recognized when it has been earned, in other words when the business has discharged its obligation to the other party by a way of delivering goods or services to clients.
Specifically,by not recording an adjusting for the $1520 revenue earned but not yet received,the revenue for the period would be understated by $1520 as well as profit for the year.
Also,asset,accounts receivable would also be understated by $1520 including retained earnings at the end of the year
I'd assume loans or credit debt.
Answer:
the equivalent units for :
materials = 106,400
conversion = 104,600
Explanation:
Calculation of the equivalent units for materials
<em>Note : Units of Ending Work In Process are 80% complete as to materials</em>
Units of Ending Work In Process (18,000×80%) = 14,400
Units Completed and Transferred (92,000×100%) = 92,000
Total =106,400
Calculation of the equivalent units for conversion
<em>Note : Units of Ending Work In Process are 70% complete as to conversion</em>
Units of Ending Work In Process (18,000×70%) = 12,600
Units Completed and Transferred (92,000×100%) = 92,000
Total =104,600
Answer:
premises
Explanation:
The grocery store incurs premises liability for his injuries. This form of liability is a legal concept that has to do with personal injuries that have been caused by some form of unsafe or defective conditions on someone's property, usually due to negligence. This is exactly what happened in this scenario since it was negligent of the store to not have cleaned up the mess made by the broken eggs which ultimately caused Johnny to fall.
The answer to your question is A
