If a company failed to make the end-of-period adjustment to remove from the unearned management fees account the amount of management fees that were earned, this omission would cause an overstatement of liabilities.
Liabilities are owing debts or legal responsibilities to another individual or business. Liabilities, then, are future forfeitures of economic gains that an entity must make to other entities as a result of previous occurrences or previous transactions.So,if a company failed to make the end-of-period adjustment to remove from the unearned management fees account the amount of management fees that were earned, this omission would cause an overstatement of liabilities.
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The atmosphere we enjoy today is radically different from the atmosphere that formed with the Earth billions of years ago. ... As the Earth cooled enough to form a solid crust (4.4 billion years ago), it was covered with active volcanos. These volcanos spewed out gasses, like water vapor, carbon dioxide and ammonia.
First calculate the effective interest rate because the
problem says that the interest is compounded semi-annually. The formula for
effective interest rate is ieff= [(1+i/n)^n] – 1. The calculated effective
interest rate is 10.25%. The value of the investment in 5 years could be
calculated using the equation, FV= PV (1+i)^n. The value of the investment then would be $244,334.194.
The answer is "nominal damages".
Nominal damages alludes to a harm or damage grant that is issued by a court when a legitimate wrong has happened, yet where there was no real budgetary misfortune because of that lawful wrong. Regularly, when an nominal damage grant is utilized, the offended party will be granted $1 or $2. This may appear to be senseless, however nominal damages fill an essential need.
