Answer:
Given that,
At the end of the current year,
$17,555 of fees have been earned but have not been billed to clients.
The Journal entry is as follows:
Account receivable A/c Dr. $17,555
To Fees earned A/c $17,555
(To record the accrued fees)
The above is the adjusting entry for the accrued fees that has not been billed to clients.
Answer:
Year 1 ending inventory is overstated and year 1 cost of goods sold is understated
Explanation:
The amount of ending inventory is increased by $ 5000 so the ending inventory is overstated and the cost of goods sold is understated as an amount of additional $ 5000 is deducted from it. For better understanding we consider the following
Opening Inventory $ 15000
Purchases $ 50,000
<u>Ending Inventory $ 20,000</u>
Cost Of Goods Sold = $ 45,000
Suppose we write $ 20,000 as $ 25,000 we get
Opening Inventory $ 15000
Purchases $ 50,000
<u>Ending Inventory $ 25,000</u>
Cost Of Goods Sold = $ 40,000
So we see that Year 1 ending inventory is overstated and year 1 cost of goods sold is understated by an amount of $ 5000
A temporary work authority is granted and valid up to<u> 60 </u>days after being issued.
Ultimate Work Authority (UWA) means the authority assigned to an individual or position to make final decisions regarding the activities and operations of a facility.
Stop Work Authority program is a safety-based process. Give employees permission to stop work in situations that could lead to accidents or injuries. For example, an employee may stop working if Dangerous conditions. An unsafe action occurs.
A Stop Work Authority (SWA) is best viewed as a safety policy or procedure that empowers and empowers employees to stop actions or conditions they deem unsafe. The goal of such a plan is to encourage employees to speak up when they see a potentially vulnerable situation looming, without fear of reprisal.
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The statement is False. Unlike the economic system of a country, the legal system is not influenced by the prevailing political system.
Free market, command, and mixed economies are the three primary types. The chart that follows contrasts command and free-market economies; mixed economies combine the two. Both people and corporations are free to choose their own economic course.
A common law system has the advantage of allowing you to be certain of the outcome of your case if a similar case has already been heard. The disadvantage is that if you have a unique circumstance, a court might easily create a new law and apply it to your situation.
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Answer:
40%
Explanation:,
In order to find the percent of Jay’s total revenue that was contributed by off site catering, you have to divide $20,000 by $50,000 to get the weight of off site catering revenue in the Jay's total revenue and multiply for 100 to get the percentage:
($20,000/$50,000)*100= 40%
