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Ivenika [448]
3 years ago
14

Changes in accounting estimates are: Multiple Choice Extraordinary items. Accounted for with a cumulative "catch-up" adjustment.

Considered accounting errors. Reported as prior period adjustments. Accounted for in current and future periods.
Business
1 answer:
Tom [10]3 years ago
4 0

Answer:

The answer is D. Accounted for in current and future periods.

Explanation:

A change in accounting estimate is an adjustment of the carrying value of an asset or liability arising from reassessing the expected future economic benefits and obligations associated with that asset or liability.

Changes in accounting estimates must be shown in the accounting period in which the estimates are revised and periods after i.e accounted for prospectively. Example is a change in useful life and salvage value of a fixed asset

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Which of the following statements are in accurate?1. There is substantial agreement about how and when markets fail.2. There is
melamori03 [73]

Answer:

The correct answer is 2

Explanation:

The market outcomes are the accounting indicators of the sales as well as profit revenue and the market share which is commonly used outcomes in the measure of the performance for the marketing.

Markets are for organize the economic activity. But the governments sometimes improve the market outcomes, not always So, there is not agreement regarding that the government to improves the market outcomes. The standard of living of company grounded on the ability to produce the goods and services.

7 0
3 years ago
An investor deposits $2,000 per year (beginning today) for 10 years in a 4% interest bearing account. The last cash flow is rece
yKpoI14uk [10]

Answer:

$24,012.21

Explanation:

Calculation for What is the investor's future balance after 10 years

Using financial to find the FV which represent future value

N 10 years

I/Y 4%

PV 0

PMT $2,000 per year

FV ?

Hence:

FV = $24,012.21

Therefore the investor's future balance after 10 years will be $24,012.21

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3 years ago
One of the unexpected drawback of starting your own business is
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3 years ago
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Based on this knowledge, the CEO of U.S. Builders asked his administrative assistant to talk with Teresa and tell her that takin
almond37 [142]

Answer:

U.S. Builders

The problem with the discipline process that U.S. Builders has is:

Implementing the resolution of the disciplinary process.

Explanation:

The correct disciplinary process should follow the following steps:

1. Obtaining an initial understanding of the issue.

2. Carrying out a thorough investigation to establish the facts.

3. Inviting the affected employee to a disciplinary meeting.

4. Conducting  the disciplinary meeting.

5. Deciding on the disciplinary action to take.

6. Confirming and conveying the outcome in writing.

7. Giving the employee the right to appeal.

Implementing the resolution.

4 0
2 years ago
Acquired $60,000 cash from the issue of common stock. Received an $8,200 cash advance for services to be provided in the future.
emmainna [20.7K]

Answer:

<u>TRIAL BALANCE:</u>

                   Debit Credit

Cash            79600

AR                       7500

Supplies                  400

slaries expense 3100

op- expense        16100

supplies expense 1600

dividends        2000

Account Payable               3000

saalaries expense                3100

Unearned Revenue               5100

Common Stock             60000

Service revenue              39100

                       110300    110300

Explanation:

We have to record eahc time an accoutn is used and once we got all transactions we determiante the balance

Cash

Debit Credit

60000

8200

28500

        15100

        2000

<u>96700 17100</u>

<em>79600</em>

AR

Debit Credit

36000

<u>        28500</u>

7500

Supplies

Debit Credit

2000

<u>         1600</u>

 400

salaries expense op- expense supplies expense

Debit Credit    Debit Credit Debit Credit

3100        16100          1600

Account Payable

Debit Credit

       2000

       16100

15100

<u>15100  18100    </u>

        3000

Salaries Payable

Debit Credit

         3100

Unearned Revenue

Debit Credit

        8200

<u>3100               </u>

        5100

Common Stock

Debit Credit

       60000

Service revenue

Debit         Credit

      36000

<u>          3100   </u>

        39100

Then we construct the trial balance which all these account balance.

5 0
3 years ago
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