1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
serg [7]
3 years ago
15

What is the effect on the financial statement when a company fails to record depreciation?

Business
1 answer:
Mashutka [201]3 years ago
7 0

Answer:

d. Net income is overstated and assets are overstated

Explanation:

The journal entry to record the depreciation expense is shown below:

Depreciation expense A/c Dr

      To Accumulated depreciation A/c

(Being the depreciation expense is recorded)

But if depreciation is failed to record, then the net income is overstated and assets are overstated as the accumulated depreciation decrease the cash balance and The net income overstated represents the understated in an expense account

You might be interested in
Suppose potential income is $80 billion, actual income is $40 billion, and expenditures don't vary with income. If the actual bu
gogolik [260]
A(4billion)

Because I 4-(5-22)-2
7 0
3 years ago
What occupational group falls under the service occupation cluster
Leokris [45]
Service occupations include such categories as food services, child care, home installation, maintenance and repair, etc. 
3 0
3 years ago
What’s the purpose of a ramp meter
Ronch [10]

Answer:

Explanation:

regulates the flow of traffic entering freeways according to current traffic conditions.

5 0
3 years ago
Read 2 more answers
Say Mary would like to create a scholarship for $2,500 per year at ECU in her family's name. If the money market rate where the
Furkat [3]

Answer:

the amount that she have to donate is $166,666.70

Explanation:

The computation of the amount that she have to donate is shown below:

Donation amount is

= Annual scholarship ÷ (interest rate - inflation rate)

= $2,500 ÷ (5.5% - 4.0%)

= $2,500 ÷ 1.5%

= $166,666.70

hence, the amount that she have to donate is $166,666.70

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0
3 years ago
Who in the u.s. is responsible for maintaining money's purchasing power? the senate congress the board of governors of the feder
kkurt [141]

the board of governors of the federal reserve system

3 0
3 years ago
Other questions:
  • A pharmaceutical company in 2016 is researching the market conditions for their newest cold medicine. They pull demographic data
    7·1 answer
  • A(n) __________ website is essentially an electronic storefront with the primary purpose of converting an online browser into an
    14·1 answer
  • The principal underwriter of an open-end investment company decides to offer a trip to south america to the registered represent
    10·1 answer
  • The stock of raw materials, inputs, and component parts that an organization has on hand at a particular time is called ________
    14·2 answers
  • Butler Automotive developed a new diagnostic testing procedure that is expected to increase sales by $10,000 per month. As more
    12·1 answer
  • Red Eye Shipping Inc. has purchased a business intelligence system. The main advantage of such a system is that it eliminates th
    13·1 answer
  • You just purchased a bond that matures in 5 years. The bond has a face value of $1,000 and an 8% annual coupon. The bond has a c
    10·1 answer
  • You have been awarded an insurance settlement of $211,400 that is payable one year from today. What is the minimum amount you sh
    11·1 answer
  • If the other island's delegate offers to give you 2 fish for every 1 coconut you give them you will?
    15·1 answer
  • A company has a predetermined overhead rate of $14 per machine hour. job 846 uses 27.5 machine hours. overhead allocated to job
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!