Answer:
True
Explanation:
Now the initial jounal entry of the Unearned Fees was recorded as:
Dr Cash received XX
Cr Unearned Fees XX ........... Is a liability
Now the reason why the statement is true can be best explained from the following equation:
Equity = Ordinary Stock + (Revenue - Expense - Dividend)
Now just look at the above equation and the journal entry, the unearned fees increased the liability and if this amount is not waived off to the amount the unearned fees are converted to earnings, I mean if you have received the amount for 3 months services in advance and only one month services are delivered then the 1/3 part of the unearned fees will recognized as earned. If it is not complied then we can see in the above equation that the revenue would decrease and this decrease will decrease the equity.
Korey's perceptual bias is the fundamental attribution.
Fundamental attribution occurs if an individual tries to explain the behavior of another person based on his/her personality, rather than based on the situation.
This type of bias is shown by Korey because he:
- Thinks the employee is lazy, which is related to personality features.
- He does not consider the situation or the fact the employee needs time to take care of the child, and it is not just avoiding work.
Learn more in: brainly.com/question/13044778
Answer:
the inventory to be purchased next month is $123,000
Explanation:
The computation of the inventory to be purchased next month is shown below:
= Cost of goods sold + closing inventory - opening inventory
= $125,000 + $6,000 - $8,000
= $123,000
hence, the inventory to be purchased next month is $123,000
We simply applied the above formula so that the purchase value of the inventory could come
