Explanation:
(1) Roy has changed the rates for prepaid rent. It is important to note that employ costs are investments and deferred rent is a current account of cash. Ideally the following paragraph should have been submitted by Roy: (I took the sum of $100 for the illustration) :
Account Debit Credit
Rental expenses $100
Cash $100
=> Yet Roy has passed this entry and has not passed the one above :
Account Debit Credit
Prepaid Rent $100
Cash $100
As we have seen, no leasing cost was shown in the firm's income statement when the first payment was not made. In other terms, the net income of the organisation was inflated falsely by $100. $100 will be included in the current account section as accrued rent in the deposits and charged as expenses in the income statement of the next year. The consequence of this journal entry is that the amount of net income is falsely raised by the number of payments shown as prepaid rentals.
(2) With the increase in log entries he will receive a higher premium this year as his payment is related to net income. Whoever lost all those stakeholders fails who depends on the financial statements of the organization to decide.
For example, banks would lose because they assume the financial position of the firm is much greater than its actual position.
(3) Roy's decisions can have far-reaching and important consequences for him. This is an accounting fraud case and therefore legal proceedings against both the administrator and the Director at the direction of whose accounts the crime is committed can be taken. It is very probable that the accountant will also be losing his job in the company and face actions by professional bodies such as ACCA, AICPA, etc. because he breaches the corporate ethical guideline and Code.
Negotiating strategies, mentoring, and coaching is all part of the <u>human capital</u> that one adds to the company.
Human capital includes the information, talents, and health that people invest in and accumulate for the duration of their lives, permitting them to understand their capacity as efficient members of society.
Human capital is an asset that includes the knowledge and abilities held by way of someone that may be used by a corporation to advance its desires. Human capital is important due to the fact some degree of human understanding and competencies is vital in order for a corporation to accomplish something.
Coaching is a form of improvement in which an experienced man or woman, known as a coach, supports a learner or consumer in reaching a specific personal or expert intention through providing schooling and steering. The learner is once in a while known as a coachee.
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Answer:
subsidies
Explanation:
Subsidies refer to financial aid for some specific purpose and to some specific category as decided by the government. As for the instance the government can provide subsidy in the form of house to poor people in the country.
Now here the rich people can afford their own houses and that they can pay the taxes as well which are attached to the the houses, which provide extra benefit to the poor, as the government can provide the subsidy then more efficiently.
The positive externalities increase the benefits for every citizen.
The interest income account is debited and the cash account is credited in the journal entry for interest on a note receivable.
<h3>
What are Notes payable?</h3>
Long-term obligations known as notes payable represent the sums that a firm owes its financiers, including banks and other financial institutions as well as other funding sources like friends and family. They are considered long-term since they are due after a year, though typically within five years.
Thus, the journal entry of interest on notes payable can be referred to in the below image.
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Answer:
Diluted EPS 1.92
Explanation:
Ahnberg Corporation
1
Net income 2,806,000
Less: Preferred Dividends 216,000
Net income for Common Stockholders 2,590,000
Divide by Common shares outstanding 740,000
Basic EPS 3.5
2
Net income 2,806,000
Divide by Common shares deemed outstanding 1,460,000
(740,000+720,000)
Diluted EPS 1.92
Therefore Ahnberg's basic and diluted earnings per share for the year will be 1.92