Answer:
The effect of this error on 2003 ending working capital is that it overstated the ending 2003 working capital.
The error does not have effect on the 2004 ending retained earnings balance.
Explanation:
Let the amount of the commission expense be xxxx.
At the end of 2003, the journal entries should have been as follows:
Debit Commission expense for xxxx
Credie Commission payable for xxxx
Also, we have:
Working capital = Current assets – Current liabilities ………… (1)
From equation (1), current liabilities are understated because commission payable which was not recorded is an item under current liabilities. Since the current liabilities are understated, that indicates that the working capital in equation is overstated. Therefore, the effect of this error on 2003 ending working capital is that it overstated the ending 2003 working capital.
When the 2003 commission expense in the entries above was paid in 2004, it would have been recognized as an expense. This made the error to counterbalance. This implies that the 2004 ending retained earnings balance is still correct despite that there are errors in the earnings of the two years. Therefore, the error does not have effect on the 2004 ending retained earnings balance.
Answer:
E. Deep-level
Explanation:
Deep-level diversity can be described as traits like values, beliefs, and attitudes that are not observable early but more direct experience makes it to become understood later.
Examples of what indicates deep-level diversity are difference in values, and personality differences between people.
Therefore, deep-level diversity refers to diversity with respect to attributes that are less easy to observe initially but that can be inferred after more direct experience.
Answer:
Captive Portal Access Point
Explanation:
Based on the description provided it seems that the technology being mentioned is called a Captive Portal Access Point. This refers to a web page that is displayed as soon as you try to access a new Wi-Fi network. This web page requires the user to input login credentials (username and password) in order to gain access into the network and use all of the resources that the network can offer.
B. False. There are usually multiple choices depending on credit score and such.
Answer:
Budgeted cost of goods sold = $7,650,000
Explanation:
Computation table for budgeted cost of goods sold
<u>Particular Amount </u>
Total Sales 225,000
Add: Desired stock in hand 90,000
<u>Less:</u><u> Beginning stock 60,000 </u>
<u>Budgeted production 255,000
</u>
Budgeted cost of goods sold = 255,000 x $30
Budgeted cost of goods sold = $7,650,000
