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Harlamova29_29 [7]
2 years ago
11

In making adjusting entries at the end of its accounting period, Chao Consulting mistakenly forgot to record: $4,100 of insuranc

e coverage that had expired (this $4,100 cost had been initially debited to the Prepaid Insurance account). 2,450 of accrued salaries expense. As a result of these two oversights, the financial statements for the reporting period will:
Business
1 answer:
dybincka [34]2 years ago
3 0

Answer and Explanation:

In case when the initially $4,100 would be debited to the prepaid insurance account and there is $2,450 of accrued salaries expense

So, the financial statement for the same would be

= $4,100 + $2,450

= $6,550

The same amount i.e. $6,550 would be understated

In that case if these are not adjusted so the same would be understated

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What does Rose argue should be the last part of a presentation to the VEnture capitalist?
goldfiish [28.3K]

Answer:

Rose argues that the last part of a presentation should wrap it up and give the final pitch.  One should highlight the crucial points as to why a Venture Capitalist would want to invest in your business,

Explanation:

4 0
2 years ago
The double-declining-balance rate for calculating depreciation expense is determined by doubling the straight-line rate. Assumin
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Answer:

the  depreciation rate in cash when the double-declining method should be used is 8%

Explanation:

The computation of the depreciation rate in cash when the double-declining method should be used is given below:

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= 1 ÷ 25 × 2

= 0.08

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Hence, the  depreciation rate in cash when the double-declining method should be used is 8%

The same should be relevant and considered too

3 0
2 years ago
A country has I = $200 billion, S = $400 billion, and purchased $600 billion of foreign assets, how many of its assets did forei
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Answer:

d. $400 billion

Explanation:

3 0
3 years ago
Morin Company's bonds mature in 10 years, have a par value of $1,000, and make an annual coupon interest payment of $60. The mar
m_a_m_a [10]

Answer:

= $865.79

Explanation:

<em>The value of the bond is the present value (PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).</em>

Value of Bond = PV of interest + PV of RV

The value of bond of Morin Company can be worked out as follows:

Step 1

PV of interest payment

PV = A ×  (1-(1+r)^(-n))/r

r- 8%, n- 10, A- interest payment = 60

PV of interest

= 60× (1- (1+0.08)^(-10)/0.08

= 402.60

Step 2

<em>PV of Redemption Value</em>

PV = RV × (1+r)^(-n)

= 1,000 × (1.08)^(-10)

= $463.193

Step 3

<em>Price of bond</em>

= $536.80 + 463.19

= $865.79

7 0
3 years ago
Noncash goods and services that would otherwise have to be paid for in cash by the beneficiary is the definition of
Lapatulllka [165]
These are called in kind benefits or benefits in kind. They are benefits which are given to employees or directors from their company. However, these are not included in their salary wages. They are also called perks or fringe benefits and they include things like company cars, medical insurance, and cheap loans.<span> </span>
7 0
3 years ago
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