I really need help with question 4 Please help

A law firm received $2,500 cash from a client for legal services to be rendered in the future. The full amount was credited to t

Savatey [412]

Answer:

D.

Revenues to be understated

Explanation:

Understated amounts indicate a reported amount is not correct and the reported amount is less than the true amount.

5 0

3 years ago

Anderson Company acquires Thompson Company by paying $30 million in cash. The fair value of the identifiable assets acquired is

bonufazy [111]

Answer:

The fair value of the assets of the identifiable assets of Thompson company are $38 million and the fair value of identifiable liabilities is $6 million. So if we were to find the value of Thompson company just on the basis of identifiable assets and identifiable liabilities we would subtract the identifiable liabilities from the identifiable assets.

38-6= $32 million.

This means that on the basis of Identifiable assets and identifiable liabilities the value of Thompson company is $32 million but they Anderson Company $ 30 million for the company which means that the company has a negative goodwill. The negative good will is the price paid - the fair value.

30 million - 32 million = -2 million

This means that Anderson Company will record -2 million as negative goodwill and this implies a bargain purchase which means Anderson company will record this 2 million as a gain on their income statement.

Explanation:

5 0

3 years ago

Jillian, a supervisor in a shoe store, observes Frank, an employee, becoming anxious and defensive when a customer complains abo

Anastasy [175]

Answer:

The correct answer is d. as soon as she is finished talking with the complaining customer.

Explanation:

Companies want to have in their teams employees trained to successfully advance the functions assigned to them and, in addition, get along with their peers. However, this is not always the case. For this reason, bosses must know how to deal with the differences and inconveniences that are caused by the same collaborators of the organization.

Recognizing a conflicting employee is not a complex task: they are those who constantly express their dissatisfaction with the company or their position, do not finish their work on time, spread malicious rumors, present excuses to justify any failure or mistake and generate a negative work climate It affects the company.

It is best to face these employees before productivity decreases, misunderstandings increase, the motivation of the team decreases and customers, as well as other team members, begin to feel uncomfortable.

7 0

3 years ago

During 2018, P Company discovered that the ending inventories reported on its financial statements were incorrect by the followi

const2013 [10]

Answer:

D. $30,000 overstated

Explanation:

Understatement of ending Inventory overstate the value of cost of Goods sold and understate the value of Net income and retained earning as well.

Overstatement of ending Inventory understate the value of cost of Goods sold and overstate the value of Net income and retained earning as well.

In 2016 the net income and retained earning was understated by $120,000.

In 2017 the net income and retained earning was overstated by $150,000.

Net Effect of both event in Retained earning at January 1, 2018

$150,000 overstated - $120,000 understated = $30,000 overstated

4 0

3 years ago

In the United States, African Americans, Native Americans, and Asian Pacific Americans are considered the largest ______ minorit

Murljashka [212]

In the United States, African Americans, Native Americans, and Asian Pacific Americans are considered the largest racial minority groups.

A minority group is a group of people who are less numerous than the major groups within those groupings in terms of their practices, color, religion, ethnicity, or other traits.

Racial minority groups are a group of people of a particular race who are underrepresented in comparison to a bigger group, the general public, etc.

However, the term "minority" in the 1990s typically refers to four significant racial and ethnic groups: African Americans, American Indians and Alaska Natives, Asians and Pacific Islanders, and Hispanics. In some states and regions, this change in America's racial and ethnic makeup is most obvious.

Because everyone has a unique perspective on everything, it is crucial to respect the opinions of all people, including those who do not belong to the majority, minority, or even just one single guy. Some people are upbeat, therefore depending on the situation, they may be in the majority or minority.

To know more about racial minority refer to: brainly.com/question/28103602\

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8 0

2 years ago