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Mandarinka [93]
3 years ago
10

Assume instead that the equipment was disposed of in 2022 and the original error was discovered in 2023 after the 2022 financial

statements were issued. Prepare the correcting entry in 2023.
Business
1 answer:
Ganezh [65]3 years ago
7 0

Answer:

No journal entry is required

Explanation:

As if we assume that the disposal of equipment is done in the year 2022 but the original error was discovered in the year 2023 after issuing the 2022 financial statements

Based on the above information, the correct entry for the year 2023 is that no journal entry is required for this transaction and the same is to be considered

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Bric Autos Inc., a Campora-based automobile company, made a capital investment of $300,000 to set up production units and distri
MrMuchimi

The given investments are best known as Foreign direct investments .

<u>Explanation: </u>

Foreign direct investment (FDI) is an offer made by an individual Situated in some other nation in the context of holding ownership of an enterprise in one country. Therefore, the principle of direct control separates itself from an investment in a foreign fund.

For open markets instead of regulated equity markets, FDIs are widely used.

Types of Foreign direct investment are horizontal, vertical and multinational. In another region, Horizontal defines the same company category, while vertical is related but separate, and conglomerates are different firms.  

FDI to the US is continuously tracked by the Bureau of economic analysis.

The example of an FDI is Apple's venture in China.

7 0
3 years ago
At the trough of the business cycle, cyclical unemployment is _____ and the actual unemployment rate _____ the natural rate of u
lianna [129]

Answer:

d. positive; exceeds

Explanation:

Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;

I. Cyclical unemployment rate (CU).

II. Frictional unemployment rate (FU).

III. Structural unemployment rate (SU).

IV. Actual unemployment rate (AU).

V. Natural Rate of Unemployment (NU).

Cyclical unemployment can be defined as a type of unemployment which is typically related to changes in the business, economy or industry cycle such as recession, governmental policies etc.

Mathematically, cyclical unemployment is given by the formula;

Cyclical \; unemployment \;  rate \; (CU) = Actual \; unemployment \; rate \; (AU) - Natural \; unemployment \; rate \; (NU)

>>> CU = AU – NU

The trough of a business cycle refers to the stage where decline (fall) in business activities ends and transit into expansion i.e the business moves from a decline (fall) to an expansion (rise).

Hence, at the trough of the business cycle, cyclical unemployment is positive and the actual unemployment rate exceeds the natural rate of unemployment because there's an increase in the level of output or productivity.

7 0
2 years ago
Which of the following is a cause of Cost-Push Inflation?
AnnyKZ [126]

Answer, 4

Explanation: I got it right in odyssey ware

8 0
2 years ago
Jim's Hardware is adding a new product to its sales lineup. Initially, the firm will stock $36,000 of the new inventory, which w
mr_godi [17]

Answer:

$13,000

Explanation:

Given that

The stock of the firm = $36,000

Invested amount in account receivable = $13,000

Invested amount in equipment = $11,000

So by considering the above information, the amount included in the initial project for net working capital is the account receivable i.e current assets minus current liabilities and the account receivable is come under the current assets so the same is to be included

7 0
3 years ago
Federal inspectors find that several shipments of hamburger supplied to grocery chains is contaminated with potentially harmful
brilliants [131]

Answer:

The Food and Drug Administration issues a recall for the meat, and the seller notifies its customers.

Explanation:

When there is a serious or potentially serious risk to consumers, the FDA works with sellers and distributors to recall products (remove them from store shelves) and notify customers through press releases and other communications.

7 0
3 years ago
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