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Nat2105 [25]
3 years ago
9

When evaluating investments, you can get data from engineering, marketing and sometimes accounting. Do you think any of these or

ganizations have internal biases? If so, as a member of the finance department, how would you deal with them?
Business
1 answer:
BartSMP [9]3 years ago
4 0

Answer: The evaluation of investments is important for knowing the real picture of the financial status of the organization.

Explanation:

The organization may have an internal bias that presenting the data for evaluating the investment. Being a member of the finance department I will suggest the organization get the financial statements and other finance-related documents so as to detect the internal bias in the investment statement.

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For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31
Vadim26 [7]

Answer:

1. Assume no other adjusting entries are made during the year a. Tao Co. receives $10,000 cash in advance for four months of legal services on October 1, 2017, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2017, and Tao has provided legal services as planned. hat adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2017?

Step 1: Unearned Revenue has a credit balance of $10,000

Step 2: Unearned Revenue should have a credit balance of $2,500 only.

Step 3: Adjusting Journal Entry:

Debit Unearned Revenue $7,500

Credit Service Revenue $7,500

To record revenue for services performed to December 31, 2017.

2.  Caden started a new publication called Contest News. Its sub subscriber, Caden debits Cash and credits Unearned Subscription Revenue for the amounts received. The company has 100 new subscribers as of July 1, 2017. It sends Contest News to each of these subscribers every month from July through December Assume no changes in subscribers, prepare the journal entry that Caden must make as of December 31, 2017, to adjust the Subscription Revenue account and the Unearned Subscription Revenue account pay $24 to receive 12 monthly issues.

Step 1: Unearned Subscription Revenue has a credit balance of $2,400

Step 2: Unearned Subscription Revenue should have a credit balance of only $1,200.

Step 3: Adjusting Journal Entry:

Debit Unearned Subscription Revenue $1,200

Credit Subscription Revenue $1,200

To record subscription revenue for services performed to December 31, 2017.

Explanation:

Tao Co and Caden follow the three-step process of adjusting unearned revenue liability accounts at year-end.  The purpose of the steps is to ensure that correct amounts remain as balances in the unearned revenue accounts.  The steps also help to adjust the Earned Revenue account to its proper amount in recognition of goods or services provided in accordance with the accrual concept and the matching principle of generally accepted accounting principles.

8 0
3 years ago
What is one of the best ways to determine what kind of business you'll enjoy? A. Buy an established business. B. Create one rela
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The answer would be (B. To create one related to what you do in your free time) To be interested/motivated  in what you are doing, it has to grab your attention, you have to appreciate the topic, best way to make a business you'll enjoy is to create one based around one of you favorite pass times, hobbies, passions, etc...<span />
3 0
3 years ago
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In intrapersonal communication, you use the language and symbols that were communicated to you through your culture.
steposvetlana [31]

Answer:

Idek what that is XD

Explanation:

6 0
4 years ago
Which of the following would be considered a subtopic for a mind map?
snow_lady [41]

Answer:

Free youngboy

Explanation:

and blogging would be considrerd the sub

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3 years ago
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High income countries with larger governments as a share of gdp have generally
Scorpion4ik [409]

Answer: High income countries with larger governments as a share of GDP have generally grown at a slower rate than the countries with smaller governments.

Explanation: Developing countries or countries with less money typically grow at a faster rate than higher income countries because returns related to capital are not as strong. In richer countries, they have higher capital and tend to grow at a slower rate.

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3 years ago
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