Answer:
The errors have resulted in the overstatement of net income by $9,400. Actual net income is $35,600
Explanation:
Expired rent is usually accounted for by debiting rent expense and crediting prepaid rent account. As such this is an additional expenses that will be deducted from sale to get the net income.
Depreciation expense on asset is recorded by debiting depreciation expense and crediting accumulated depreciation. Again, it is an additional expenses that will be deducted from sale to get the net income.
Supplies used is a debit to supplies expense and a credit to the supplies account (B/s). Hence, it is an additional expenses that will be deducted from sale to get the net income.
Hence the total additional expense to be recorded
= $3,500 + $4,100 + $1,800
= $9,400
When recorded, net income
= $45,000 - $9,400
= $35,600
Answer:
<u>The projected cash collections for the month of December is $ 65,750.
</u>
Explanation:
Projected cash flows for the month of December = 25% of october credit sales + 65% of November credit sales
5% of December credit sales
= (72000*25%) + (68000*65%) + (71000*5%)
= $ 65,750.
Total percentage as per given question, is only 95% but not 100%.
Also, credit sales collections upto second following month of Actual date of sale. So, september month sale is not considered.
Answer:
The answer is C: 14300
Note: The actual answer is 14296, <em>and </em>the closest to that was option C.
Explanation:
Formula to calculate forecast using Exponential smoothing:
Where,
= New Forecast 
= Previous period's forecast.
= Smoothing Constant 
= Previous period's Actual Demand.
- Calculating the forecast for period 5:
Data:
Putting <em>values in the formula:</em>
Answer: Gathering information
Explanation: Ethical decision making involves evaluating and choosing among different options in a way that is consistent with ethical principles. The best way to do this is to eliminate the unethical choices and choose the best alternative option.
There are various steps involved in this process. These are listed below:
1. Gather info
2. Define the ethical problem
3. Identify the parties that are affected
4. Identify the consequences
5. Identify the the principles
6. Evaluate the options
7. Choose the best option
8. Implement the decision
Professor Thompson has decided to wait until the class period ends, take both tests and compare their answers. After that she will decide what to do about the situation. Professor Thompson has thus entered the first step, which is to gather information. She doesn't want to jump to conclusions without gathering all the facts, so she is going to acquire as much info as she can about the situation before continuing. All these points add to the fact that Professor Thompson is entering the first step towards making the best ethical decision.
6.4%
200 from the 5% of 4000
140 from 4% on 3500
160 on 6.4% on 2500
