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Delicious77 [7]
3 years ago
14

Ballou Corporation declared a cash dividend on December 13, 2018, payable on January 10, 2019. By mistake, the company failed to

make a journal entry in December 2018. The effect of this error on the financial statements as of December 31, 2018 were:_____.
a. retained earnings was overstated and liabilities were understated.
b. retained earnings was overstated and cash were understated.
c. retained earnings and liabilities were both understated.
d. retained earnings and liabilities were both overstated.
Business
1 answer:
crimeas [40]3 years ago
3 0

Answer: a. retained earnings was overstated and liabilities were understated.

Explanation:

Dividends are paid from the Retained Earnings so when a company announces a dividend, that dividend is to be deducted from the Retained earnings. As this was not done, the Retained earnings at year end are overstated.

As the dividends are not paid immediately, they become liabilities. With the relevant entries not made, the dividends were not recorded as liabilities which makes liabilities understated.

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OFFERING 20 POINTS Whitney's proposal to build 10,000 guns relied on what two important elements found in the modern manufacturi
strojnjashka [21]

Answer:

interchangeable parts and assembly lines

Explanation:

8 0
3 years ago
Give an example of a specialist external agency that a café could use to advertise for an accountant in their head office.
vesna_86 [32]

Answer:

A finance reporting accountant prepares periodic financial statements required for external reporting. They collect and analyze financial data, ensuring that all reporting complies with SEC and GAAP reporting regulations and guidelines. They also prepare internal reports as required.

Explanation:

Please mark Brainliest!

6 0
2 years ago
Pricing objectives should be stated explicitly, stated in measurable terms, and specify a?
Delvig [45]

Pricing objectives should be stated explicitly, stated in measurable terms, and specify they have a direct effect on pricing policies as well as price setting methods.

The pricing techniques are developing, skimming, and following. develop: putting a low price, leaving a maximum of the fee in the palms of your clients, shutting off margin out of your competition.

A pricing policy is an organization's method of determining the fee at which it offers a good or provider to the market. Pricing guidelines assist organizations to ensure they continue to be profitable and supply them with the ability to price separate products otherwise. A business enterprise gives up instantaneous earnings in trade for accomplishing a higher market proportion. merchandise is priced low. Pricing objective: Maximising current profit. objectives may be set and overall performance measured speedy.

Disclaimer: your question is incomplete, please see below for complete question

A. they have a direct effect on pricing policies as well as price setting methods.

B. they are signals given to competing firms.

C. they form the basis of shareholder expectations about a firm's prospects.

D. it is required by law.

E. they are signals given to consumers.

Hence, the answer is option A.

Learn more about Pricing objectives here:-brainly.com/question/20927491

#SPJ4

8 0
2 years ago
Telfer, Inc. reported net income of $2.7 million in 2020. Depreciation for the year was $162,300, accounts receivable decreased
vovikov84 [41]

Answer:

See below

Explanation:

Computation of net cash provided by operating activities using the indirect method

Cash flow from operating activities

Net income

$2,700,000

Adjustments to reconcile net income

Add: Decrease in accounts receivable

$357,400

Less: Decrease in accounts payable

$296,500

Add: Depreciation expense for the year

$162,300

Net cash provided by operating activities

$2,923,200

5 0
3 years ago
An individual is now 50 years old, that he plans to retire in 10 years, and that he expects to live for 25 years after he retire
Nutka1998 [239]

Answer:

Ans.  He must save during each of the following 10 years, at the end of each year $32,452.

Explanation:

Hi, in order to find the amount of money that he should have in ten years so he can receive an annual payment of $65,156 for 25 more years (24 payments), we need to bring to present value all 24 payments to year 10. Let me show you the formula.

PresentValue_{10} =\frac{A((1+r)^{n}-1) }{r(1+r)^{n} }

Where:

A= $65,156

n= 24

r= 0.08

Therefore the present value in year 10 is:

PresentValue_{10} =\frac{65,156((1+0.08)^{24}-1) }{0.08(1+0.08)^{24} }=686,012

So that is our present value in year 10, or to put it in other words, our future value (if we look at it from year 0). Now we need to find the annuity (amount to save) that with account for $686,012, plus that $100,000 that he already has saved.

Every should look like this.

686,012=100,000*(1+0.08)^{10} +\frac{A((1+0.08)^{10}-1) }{0.08(1+0.08)^{10} }

And we solve this equation for "A".

686,012=A(14.4865625)+215,892

A=\frac{(686,012-215,892)}{14.4865625} =32,452

Best of luck.

5 0
3 years ago
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