Answer:
The accounting equation states that "Assets=Capital Liabilities"
As a result, the equation here gives $11250 on both sides of the question.
The profit or loss statement gives net income of $11250 as well ,while the balance sheet has $11250 total as assets, the same as equity plus liabilities.
Finally,the statement of cash flow showed increase in cash and cash equivalent in the year as $9400.
The rent expense applicable to year 2 is the balance of prepaid rent which currently stood at $1850
Explanation:
Please find attached spreadsheet showing details regarding all the financial statements prepared in respect of Life Inc.
Answer:
"No."
This transaction does NOT require an accounting adjustment to the financial statements for the fiscal year ending 12/31/2019 - If you believe that statement is correct - answer "No."
Explanation:
The check disbursement does not require an adjustment to the financial statements for the fiscal year ending 12/31/2019, because the check is dated 1/6/2020.
Adjusting entries are changes to the journal entries which tries to match transactions to their correct accounting periods. A check dated January 6, 2020 does not belong to the fiscal year ending December, 2019.
Adjusting entries are usually for Accrued Revenue, Accrued Expenses, Deferred Revenue, Prepaid Expenses, and Depreciation Expenses.
Answer:
Greenwashing.
Explanation:
Disinformation disseminated by an organization so as to present an environmentally responsible public image.
It is a term describing the fraud made by companies when they pretend they help the environment by using green marketing.
It attempts to trick us into believing that a company with an awful environmental track record actually has a good one.
If one corporation gets away with greenwashing, then other corporations will follow, thereby creating an illusion of being environmentally friendly.
Answer:
A, B and D
Explanation:
Under OSHA laws, employers must provide a safe workplace for the employees. All the danger areas must be indicated with either painting or signage. Using guard rails is an excellent way of demarcating danger zones. They keep employees away from dangerous spots. In this case, an employer should use guard rails in the following circumstances.
1.Around every floor hole into which a worker can accidentally walk. The guard rails will form a barrier that will prevent accidental falls into the hole.
2.Around every open-sided platform, floor, or runaway that is 4 feet or higher off the ground or next level. The guard rails form a wall that prevents employees in raised levels from falling to the ground.
3. Regardless of height, if a worker can fall into dangerous machines or equipment. In case of an incident, the guard rails will stop an employee from falling into dangerous machines or equipment.
Answer:
B. False
Explanation:
Beginning balance
-Period of policy= expired 2 months
-Period of unexpired insurance = 1 month (Out of 3 month, Insurance premium for period "Jan 1 to Feb 28" is expired)
Amount in prepaid insurance insurance= $1800 * 1/3 = $600
Current balance
Period = "0" since period of coverage will start from 1 march
Period of unexpired insurance = 12
Amount in prepaid insurance = 4,100
Thus, Total amount in prepaid insurance for the beginning and Current period= $600 + $4,100 = $4,700
The amount in prepaid insurance is $4700, hence the balance as stipulated as Prepaid Insurance = $ 1,200 is false
