Answer:
a prior period adjustment
Explanation:
A prior period adjustment -
It is the correction of the accounting error which took place in the past and was written in the prior year of financial statement , net of the income taxes , is known as a prior period adjustment .
It is the method to fix the previous problem of past during the reporting .
hence , the correct term fro the given statement is a prior period adjustment .
Answer:
option B) $ 25M
Explanation:
Data provided in the problem:
Without proposed project A,
The estimated cash flows over the next 3 years = $ 275M
With the proposed project A,
The estimated cash flows over the next 3 years = $ 300M
Now, the amount of incremental cash flows associated with Project A will be calculated as;
Incremental cash flow = Cash flows (With Project A) - Cash flows (Without Project A)
on substituting the values, we get
Incremental cash flow = $ 300M - $ 275M = $ 25M
Hence, the correct answer is option B.
Answer and Explanation:
The journal entries are shown below:
1. The revised estimated amount of total compensation is
= 100,000 shares × $6
= $600,000
2. The action shows that the Farmer Fabrication cumulative effect for the year 2022 earnings
3. The journal entries are shown below:
For the year 2022
Compensation expense
To Paid-in Capital-Stock options $200,000
(Being the compensation expense is recorded) $200,000
For recording this we debited the compensation expense as it increased the expenses and credited the paid in capital as it increased the stockholder equity
The computation is shown below:
= $600,000 ÷ 3 years
= $200,000
Answer:
b) ERP
Explanation:
Enterprise Resource Planning is a business management software that allows an organization to use a system of integrated applications to manage the business and automate many office functions related to technology. A typical example of an ERP is SAP ERP.
