Answer:
$150,000
Explanation:
$150,000
The failure to accrue warranty expense is an accounting error. It gives rise to a Prior period adjustment in the year of discovery (20x3).
Prior period adjustments are limited to corrections of errors affecting prior-year net income. They adjust the beginning balance of retained earnings in the year of correction.
The change in depreciation method is an estimate change, which is reported in earnings. It is not a Prior period adjustmen
As the basis for everything about finnancial issues, the statement above is TRUE. These means are the basis to achieve your goals to save money and keep your budget safe. Hope this is good for you
Answer:
e. 14.60%
Explanation:
The computation of Oval's cost of new common equity is shown below:-
Price of stock = Estimated dividends for next period ÷ (Required rate of return - Growth rate)
Dividend = $1.50 × (1 + 4%)
= $1.56
Price of stock would be the price net of flotation cost
= $16 × (1 - 8%)
= $14.72
Required rate of return
= (1.56 ÷ 14.72) + 0.04
= 14.60%
Answer:
The journal entry should be:
Dr Investment in Leghorn Corporation XX
Cr Accounts receivable XX
Explanation:
Foghorn Company must record the noncash payment as an asset which should be equal to the amount of money that it generally would have collected from the services provided. Since the payment is done through stocks, it must record that collection as an investing account.
Since transferring stocks usually takes a couple of days at least, the original journal entry should have recorded a debit to accounts receivable and a credit to service revenue.
Answer: D. All of the above
Explanation: The three options listed could explain why the productivity of labor increased with a reduction in the quantity of labor hired. The law of diminishing returns states that as more and more inputs of production are added, a time comes in when additional inputs causes no corresponding increase in productivity. At points like this a reduction in the input added would restore productivity.
Reducing the amount of labor obviously is a labour saving technical change. Changes in organizational innovation can also result in changes in productivity.
