Distance ran by Chris Gilbert, D = 96 yards
Speed, S = 4.9 s / 40 yards
Time ran by Chris Gilbert, T = D x S
T = (96 yards) x (4.9 s / 40 yards)
T = 11.76 s, total time ran by Chris Gilbert
The two main accounting methods are cash accounting and accrual accounting. Cash accounting records revenues and expenses when they are received and paid. Accrual accounting records revenues and expenses when they occur. Generally accepted accounting principles (GAAP) requires accrual accounting.
Answer:
Net income is overstated by $28,000.
Explanation:
As the company forget to make the adjustment entry it didn't recognize any expense for the expired insurance.
From September to December 31th 4 month of insurance has expired:
42,000 x 4 month/6 months = 28,000 insurance expense
as the expense weren't post the income statement is overstated along with the assets of the company as it doesn't have a prepaid amount for 42,000 but for 14,000
<span>A detailed report is a report
that usually lists only transactions. From the name itself, detailed report
gives you very detailed information regarding the value of time spent by every
member in a certain tasks within a given projects. It also displays table with data categorizes
by users, tasks, and projects, billable time and amount.</span>
Answer:
Absorption costing unit product cost $240
Explanation:
The computation of the absorption costing unit product cost is shown below/;
Direct materials $131
Direct labor $65
Variable manufacturing overhead $12
Fixed manufacturing overhead cost $32 ($118,400 ÷ 3,700)
Absorption costing unit product cost $240
