Answer:
The correct answer is the third option: a special journal entry that eases the burden of accounting for transactions in the next period.
Explanation:
To begin with, a <em>reversing entry </em>is the name given to a special journal entry in the accounting areas that focus on the action of reversing selected entries made in the inmediately preceding period in order to correct common human mistakes. Therefore that this type of entry has the intention of easing the burden of accounting for transactions in the next period by just noticing that is being used in the journal.
Answer:
a. used net cash of $2,000
Explanation:
The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:
Cash flow from Operating activities - Indirect method
Net loss -$13,000
Adjustment made:
Add : Depreciation expense $4,000
Add: Decrease in accounts receivable $5,000
Less: Increase in inventory -$8,000
Add: Increase in accounts payable $10,000
Total of Adjustments $11,000
Net Cash flow from Operating activities -$2,000
Based on global management, it seems Michael was not cognizant of Norio coming from a <u>high-context culture</u>.
<h3>What is
global management?</h3>
Global management can be defined as an international business practice in which a business organization (company) utilizes its employees (management team) and resources to carry out its business on an international level.
<h3>What is a
high-context culture?</h3>
A high-context culture can be defined as a type of cultural communication in which the people focuses on underlying context and situational cues, meaning, nonverbal cues, and tone of a message, rather than just the words themselves when communicating with others.
In this context, we can reasonably infer and logically deduce that it seems Michael was not cognizant of Norio coming from a high-context culture because he is exhibiting low-context culture characteristics, by being more interested in signing a contract.
Read more on high-context culture here: brainly.com/question/17438233
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Complete Question:
At the beginning of the conversation, Norio wanted to discuss sushi with Michael, but Michael is more interested in getting the contract signed. Based on what you've learned about global management, it seems Michael was not cognizant of Norio coming from a ______.
Answer:
The overapplied factory overhead results in more expense. The overapplied factory overhead results in increase in cost of good sold. Over-application means that actual overhead are less than reported expense. At the end of the accounting period the company will pass following accounting entry to adjust over application
Debit FOH account 400
Credit Cost of Good Sold 400
So after this adjustment the net income will increase by 400 dollars.
Answer:
Date Account titles and Explanation Debit Credit
Apr 1 Cash $679,900
Common stock $261,500
(52,300*5)
Paid in common stock in excess of par $418,400
(52,300*$13-$5)
(To record common stock issued)
Apr 19 Organisation expenses $28,900
Common stock $9,000
(1800*5)
Paid in common stock in excess of par $19,900
(To record issuance of comm1,100on stock for attorney.s fees)
Apr 19 Cash (1,100*$6) $6,600
Preferred stock (1,100*$1) $1,100
Paid in preferred capital in excess of par $5,500
(To record common preferred stock for cash)
