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suter [353]
2 years ago
8

Indicate by how much net income in the income statement is higher or lower if the adjustment is not recorded. (Do not round inte

rmediate calculations.)
Business
1 answer:
oee [108]2 years ago
4 0

Answer:

1. If the depreciation is not recorded, expenses will be overstated. Net income will therefore be higher by the depreciation amount of $5,400.

2. One June 30, $34,000 was loaned out. Interest is 7%. This interest needs to be apportioned to 6 months in the year as interest revenue:

= [(7% * 34,000) / 12] * 6 months

= $‭1,190‬

If this is not recorded, interest revenue will not be recorded which means that Net income will be lower by $1,190.

3. This was for one year yet it was received on October 1. 3 months of the amount will have to be accounted for in the current period.

= (9,600/12) * 3

= $2,400

There must be revenue recognized of $2,400. If it is not recognized, Net income will be lower by $2,400.

In total, Net income will be higher (lower) by:

= 5,400 - 1,190 - 2,400

= $1,810

Higher by $1,810.

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Dean has earned $70,000 annually for the past five years working as an architect for WCC Inc. Under WCC's defined benefit plan (
nadya68 [22]

Answer:

A. $7,350

Explanation:

The computation of the vested benefit is shown below:

= Average salary × given percentage × five years × vesting percentage

= $70,000 × 3.5% × 5 years × 60%

= $7,350

Hence, the correct option is A.

8 0
3 years ago
1. Make the following statement True by filling in the blank from the choices below: Critical infrastructure owners and operator
Nadya [2.5K]

Answer:

The answer is "Develop and implement security and resilience programs for the critical infrastructure under their control, while taking into consideration the public good as well".

Explanation:

In the past, industrial control  systems were generally not connected to IT networks and did not contain complex computing  capabilities; therefore, they could be adequately protected using physical security measures like locks  and fences. However, as OT has become more integrated with IT, such physical measures are becoming  less adequate in securing the underlying critical assets.

8 0
3 years ago
Forner, Inc., manufactures and sells two products: Product Z1 and Product Z8. The company has an activity-based costing system w
Alona [7]

Answer:

$184.34

Explanation:

The computation of activity rate for the Order Size activity cost pool is shown below:-

The Activity rate for Order size = Estimated order size overhead cost ÷ Total machine hours

= 1,069,190 ÷ 5,800

= $184.34

Therefore for computing the activity rate for the Order Size activity cost pool we simply applied the above formula and ignore all other value.

7 0
3 years ago
If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of
Lerok [7]

Answer:If the firm had sharp seasonal sales patterns, or if it grew rapidly during the year, many ratios would most likely be distorted.

Explanation: Fluctuations in Economics patterns have distorting effects on the ratios of a company or an economy especially if the the seasonal patterns has been consistent for a certain period. THE VALIDITY OF MOST RATIOS ARE SEVERELY AFFECTED BY SHARP CHANGES WHICH MAKES ECONOMIC WATCHERS FEEL THE RATIOS ALREADY ANALYSED ARE NOT VALID.

A consistent flow pattern is desired in an economy and in business Organisation as it helps to give Economic watchers enough confidence in the ratios already existing.

4 0
3 years ago
Ithaca is considering a new $45,000 snowplow that will save the city $400 per day of use compared to the existing one. It should
Yuliya22 [10]

Answer:

a/ 20 days per year on average

b/ The use of road salt to is an effective deicer method. However, it will eventually causes some harmful impact on the environment including but not limited to increasing in water/soild salinity, contamination of public drinking waters, destroy the soild structure and slowly killing of trees and plants. Luckily, there are some other options which are more environment-friendly such as Cheese brine, Sand, Urea, Beet molasses

Explanation:

a/ To evaluate the investment of the new snowplow, denote X is the average amount of saving per a year as the new snowplow is used.

    Consider the average amount of saving as an annuity for the next 12 years, with the discount rate of 14%. The present value (PV) = 45,000 - 2,500/1.14^(-12) =$44,481.1

   Thus, to obtain the rate of return of 14%, PV of the annuity should be equals to $44,481.1 meaning: 44,481.1= (X/14%) x [ 1 - 1.14^(-12)] <=> X = $7858.44

   As one day use would save Ithaca $400, to achieve the targeted saving of $7858.44, the city has to use the snowplow at least 20 days per year ( 7858.44/400)

5 0
3 years ago
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