Answer:
In 2017
Net Income and Retained Earning are overstated by $100,000
Expenses and Payables are understated by $100,000.
In 2018
Inventory, Net Income and Retained Earning are understated by $57,000
Expenses are overstates by $57,000
Explanation:
Accrued Salaries is Recorded as follow
Dr. Salaries Expense
Cr. Salaries Payament
Non recording of this entry will result in understatement of Expenses and Payables by $100,000 over statement of Net income and retained earning by the same amount.
Treatment of Office supplies of $57,000 as expense will overstate the expenses and understate the the inventory, Net income and Retained Earning.
Answer:
Explanation:
journal entry will Jenson use to correct the error
Date Account Titles And Explanation Debit Credit
Computer $400,000
Accumulated depreciation ($100,000 × 2 years) $200,000
Retained earnings ($400,000 - $200,000) $200,000
Annual depreciation = (Cost - Salvage Value) / 4
= ($400,000 - 0) / 4
= $100,000
Answer:
C. deep-level diversity
Explanation:
Deep-level diversity is a type of diversity among individuals that is not easily observable, and includes traits such as working styles, values, beliefs, cognitive, or decision-making styles. These are usually psychological. These traits are less observable.
According to the information given in the question above about the Olivia and her employees, we can infer that Olivia and her employee display deep-level diversity, as the designers have traits that are not easily observable such as the different working styles they have while they still work effectively together as a team.
Answer:
$4,900,000
Explanation:
Ratio of Building in total Fair Value = $1,560,000 / ($1,560,000 + $1,560,000 + $2,080,000)
Ratio of Building in total Fair Value = $1,560,000 / $5200000
Ratio of Building in total Fair Value = 0.3
Ratio of Building in total Fair Value = 30%
Building recorded by = $1470000
Total Purchase Price of all three asset = $1470000 / 30%
Total Purchase Price of all three asset = $1470000 / 0.3
Total Purchase Price of all three asset = $4,900,000
Answer:
b. 13.63%
Explanation:
Multiple choice <em>"(a) 1.01% (b) 1.37% (c) 0.50% (d) -0.50%"</em>
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Spot rate = future rate /(1 + interest rate differential)
1.0796 = (1.0796 + 0.007356)/(1 + interest rate differential)
1.0796 = 1.086956 / (1 + interest rate differential)
1.0796 * (1 + interest rate differential) = 1.086956
(1 + interest rate differential) = 1.086956/1.0796
(1 + interest rate differential) = 1.006813634679511
Interest rate differential = 1.006813634679511 - 1
Interest rate differential = 0.006813634679511
interest rate differential = 0.006813634679511*2
interest rate differential = 0.013627269359022
interest rate differential = 13.63%
So, the difference between interest rate of Europe and US is 13.63%.
