A company made no adjusting entry for accrued and unpaid employee salaries of $9,100 on December 31. Which of the following statements is true? Multiple Choice It will understate current-year expenses and overstate current-year net income by $9,100 It will have no effect on income It will understate assets by $9,100 It will overstate assets and liabilities by $9,100. It will understate current-year net income by $9,100.
Answers
It will understate current-year expenses and overstate current-year net income by $9,100, Option A.
An accrued expense refers to an expense that has been incurred but has not been paid for. It occurs when an expense is incurred in one period, but the payment is made in a subsequent accounting period. Accrued expenses are reported in the balance sheet as a current liability.
The fact that the company has made no adjusting entry for accrued and unpaid employee salaries of $9,100 on December 31 means that the expense has been incurred but has not been recorded yet. This, therefore, implies that the company's financial statements will not be accurate since they will understate the actual expenses incurred and overstate the actual income earned.
The adjustment entry required for this type of expense is debit Salary Expense and credit Salaries Payable. This adjustment entry will increase the expense by $9,100 and create a corresponding liability of $9,100. If the adjustment entry is not made, it implies that the expense has not been recorded, which will lead to the understatement of the current year's expenses and overstatement of the current year's net income.
The correct option is A, It will understate current-year expenses and overstate current-year net income by $9,100.
Learn more about net income: https://brainly.com/question/32614743
#SPJ11
Related Questions
which of the following is not a condition normally required to be a legally defensible performance appraisal system? group of answer choices a system that prevents one manager from controlling a subordinate's career the absence of adverse impact on members of protected classes the use of predetermined criteria that limit the manager's discretion a review of the appraisal by an eeoc representative
Answers
A review of the appraisal by an EEOC representative is not a condition normally required to be a legally defensible performance appraisal system. The correct answer is: a review of the appraisal by an EEOC representative.
A legally defensible performance appraisal system is one that can withstand legal challenges, such as claims of discrimination or unfair treatment. To be legally defensible, a performance appraisal system should meet certain conditions, including:
The use of predetermined criteria that limit the manager's discretion: This ensures that managers are not making arbitrary or biased decisions.The absence of adverse impact on members of protected classes: This means that the system should not disproportionately affect certain groups of employees, such as those based on race, gender, or age.A system that prevents one manager from controlling a subordinate's career: This helps prevent favoritism or personal bias from influencing the appraisal process.However, a review of the appraisal by an EEOC representative is not a condition normally required for a legally defensible performance appraisal system.
In conclusion, the correct answer is: a review of the appraisal by an EEOC representative.
See more about performance appraisal system at https://brainly.com/question/17011260.
#SPJ11
Which banking document is a summary of what has been put into and taken out of your account?A. DeficitB. Cash flowC. Bank statementD. Buying asset
Answers
A (C) bank statement is a list of all the deposits and withdrawals from your account.
What is a Bank statement?A bank statement is an official summary of all financial transactions made for each bank account that a person or business has with a financial institution within a specific time period.
These statements, which are created by the financial institution, are numbered and reflect the time period they cover.
They may also include other information pertinent to the type of account, such as the amount due by a specific date.
The day following the conclusion of the previous statement period is typically the start date of the new statement period.
Details on the statement are typically not changeable once they are generated and delivered to the customer; any errors would typically be fixed on a subsequent statement along with communication that explains why the correction was made.
Therefore, a (C) bank statement is a list of all the deposits and withdrawals from your account.
Know more about a Bank statement here:
https://brainly.com/question/26285218
#SPJ4
Which of the following is NOT true of studying abroad?
O Local job opportunities become nonexistent
O Students can learn a new language
Bigger potential for international employment
O Students can pursue education abroad
Answers
Answer:
Local job opportunities become nonexistent
Explanation:
they don't become nonexistent
A person's cognitive biases are MOST likely to affect what?
Question 1 options:
how their brains filter information
whether they use email or instant messaging
how much money they make
what kind of jargon they use
Question 2 (1 point)
Which of these is a secondary emotion?
Question 2 options:
fear
jealousy
anger
sadness
Question 3 (1 point)
Every afternoon at one o'clock, the air conditioner in Emilio's office turns on to lower the temperature by five degrees. Emilio finds it way too cold and it distracts him from his work. In this case, which element is affecting his perception and emotions?
Question 3 options:
culture
personality
physical environment
social media
Question 4 (1 point)
Hotaru is from Japan, where it is very common for multiple generations to live together. She is not judgmental of a 25-year-old man who lives with his parents because of her what?
Question 4 options:
physical environment
personality
culture
age
Question 5 (1 point)
Danielle tends to roll her eyes when listening to her little sister tell a story. What step should she take to increase her emotional awareness to address this issue?
Question 5 options:
consider her own feelings
monitor her facial expressions
operate on trust
be more empathetic
Answers
In Psychology, framing effect can be defined as a cognitive bias wherein a person's choice from a group of options is primarily influenced by the positive or negative connotations pertaining to the options that are available.
What is cultural diversity?Cultural diversity can be defined as an existence of cultural variety and cultural differences due to the presence of several ethnic groups that are living within a society.
In this context, we can logically deduce that some examples of distinctive cultural characteristics that differentiate groups are:
ReligionNational originAgeLanguageRead more on cultural diversity here: brainly.com/question/25671025
#SPJ1
Breton Woods Standards were found to be inadequate mainly because
Answers
Answer:
A key reason for Bretton Woods' collapse was the inflationary monetary policy that was inappropriate for the key currency country of the system.
Explanation:
The US decision to suspend gold convertibility ended a key aspect of the Bretton Woods system. The remaining part of the System, the adjustable peg disappeared by March 1973.
The Phillips curve shows a ______ relationship between inflation and unemployment, and the short-run aggregate supply curve shows a ______ relationship between the price level and output.
Answers
The Phillips curve shows a negative relationship between inflation and unemployment, and the short-run aggregate supply curve shows a positive relationship between the price level and output.
The economic relationship between the rate of unemployment (or the rate of change in unemployment) and the rate of change in money earnings is depicted graphically by the Phillips curve. It reflects the belief of economist . William Phillips that wages tend to increase more quickly when unemployment is low.
The Phillips curve is an economic theory that bears the name of William Phillips, who postulated a link between declining unemployment and higher rates of wage growth in an economy.
Learn more about Phillips curve here
https://brainly.com/question/4486587
#SPJ4
Dan just lost his job. At 44 years old, he worked as a middle manager at a well-known advertising firm for 14 years. Due to a significant loss of clients, the company had to downsize despite Dan being an exemplary employee and winning several awards. The company decided to let Dan go instead of another middle manager who was in a minority group. In a business setting, this occurrence is referred to as
Answers
In a business setting, the given occurrence we called the reverse discrimination
Reverse discrimination is the non-fair treatment of members who belong to the majority group in the workplace that depends upon race, gender, etc.
Reverse discrimination might arise at the time when the majority group like white or males are to be overlooked for following things
JobsPromotionsOther types of opportunitiesThese should provide the preference to the minority group like for women
So therefore we can conclude that In a business setting, the given occurrence we called the reverse discrimination
Learn more about reverse discrimination here: brainly.com/question/12382112
According to the video, which qualities do Lawyers need? Select all that apply.
x mechanical skills
x aggressiveness
intelligence
x physical fitness
determination
moral and ethical integrity
people skills
Answers
Answer:
C E F G
Explanation:
According to the video, The qualities Lawyers need, The first is intelligence, the second one was determination, moral and ethical integrity people skills.
What are skills?A skill is the acquired capacity to move with deliberate intent and good execution, frequently in a pre-determined window of time or energy or both. Domain-general and domain-specific skills are two common categories of skills.
As, The qualities the lawyer needs in the Curveballs will probably be thrown throughout a case session, and they must be able to understand them and react accordingly.
As, The important quality, the lawyer needs is zeal for one's work. Successful attorneys nearly usually have a genuine enthusiasm for what they do as a profession.
Therefore, The right option (C, E, F, G)) is correct.
Learn more about skills here:
https://brainly.com/question/28464758
#SPJ6
An innovative business idea that no one has never had
Answers
An innovative business idea that no one has never had is Offering virtual assistance to other businesses.
What is innovative business idea ?innovative business idea can be described as an idea in business that cn be developed so that it can be a way to earn a living by providing the services or the goods to the consumer.
It should be noted that this innovation can be the one that no one has ever done or the modification of the one that has been in exisitence, however providing the virtual assistance serves as one of the innovation in business that can ring profit.
Read more about business at:
https://brainly.com/question/26106218
#SPJ1
Complete question:
State An innovative business idea that no one has never had
Company Z understands that their business is at risk. How can they use step two in the
Decision Making Process to reach their end goal of increasing sales and customer satisfaction?
Answers
Company Z can use step two in the decision-making process to achieve its ultimate goal of increasing sales and customer satisfaction by gathering the relevant information about a decision.
Step two of the decision-making process corresponds to gathering relevant information after the decision has been identified. At this stage, internal and external work is necessary, analyzing the errors and successes related to a past decision.
Therefore, it is necessary for company Z to seek information from different sources, such as the results of previous decisions, studies, market research and consultancy, to ensure greater chances of a decision being effective.
Learn more about decision making here:
https://brainly.com/question/1249089
Nuns: For our last order of business, some nun fashion! On a traditional full Benedictine habit, the headdress is made up of several parts: the coif; the veil; and this (modeled here by Sister Mary Clarence), a cloth worn around the cheeks, neck, and chin that was also popular among medieval Christian women as a means of modesty?
Answers
The cloth worn around the cheeks, neck, and chin that was also popular among medieval Christian women as a means of modesty is called a wimple.
It was traditionally worn as part of the headdress of nuns and other religious women. The wimple covered the neck and chin and sometimes the forehead, leaving only the face visible. It was worn to symbolize the woman's religious devotion and to signify her renunciation of worldly vanity and fashion.
The wimple is an important part of the traditional Benedictine habit, which is worn by nuns of the Benedictine order. The Benedictine habit is a full-length black or dark brown robe worn with a scapular and a white wimple. The habit is a symbol of the nun's commitment to a life of prayer, simplicity, and service to God and the community.
To learn more about medieval Christian women, here
https://brainly.com/question/31406359
#SPJ4
Is it suitable to improve cash flow by renting out part of premises or is there any other way? Justify your answer
Will mark brainliest
Answers
flybolt, a leading manufacturer in the automobile industry, introduces an assembly-line production process. the process involves workers performing specific designated tasks to build subcomponents of the product rather than the complete product. with time, workers get so focused exclusively on their tasks that they lose sight of the big picture. this is a typical example of:
Answers
The situation described is an example of "task specialization" or "division of labor" in the context of assembly-line production.
Task specialization refers to dividing the production process into smaller, specific tasks performed by different workers. In the given scenario, flybolt is implementing an assembly-line production process where workers are assigned to perform designated tasks to build subcomponents of the product rather than the complete product. This division of labor allows for increased efficiency and productivity in the manufacturing process.
However, one downside of task specialization is that workers may become so focused on their individual tasks that they lose sight of the big picture or the overall goal of the production process. They may not fully understand how their specific task contributes to the final product. This can result in a lack of coordination and understanding of the entire production process.
To know more about specialization visit:
https://brainly.com/question/29896599
#SPJ11
Need step by step explanation with accurate solution
4) Recall the following problem and review its Sensitivity Report: Java Coffee Company blends four component beans into three final blends of coffee: one is sold to luxury hotels, another to restauran
Answers
The sensitivity report of the Java Coffee Company was examined in the problem presented. It blends four component beans into three final blends of coffee, one of which is sold to luxury hotels, another to restaurants, and a third to supermarkets.
The company's problem was examined in the sensitivity report. Java Coffee Company blends four component beans into three final blends of coffee, one of which is sold to luxury hotels, another to restaurants, and a third to supermarkets. It is given that the company aims to satisfy certain requirements on the proportion of the components and the cost of each blend, while also minimizing the total cost.
The Sensitivity Report provided information about the allowable increase and decrease of each resource's cost (i.e., beans). The allowable increase and decrease of each blend's demand and constraint was also provided in the report. It gave information about which resources and constraints are more restrictive to the company.
The allowable increase and decrease of the coffee blend's demand shows how much the demand can change before the optimal solution is affected. For instance, if the demand for the luxury hotel coffee blend increases by 5 pounds, the optimal solution's cost will increase by $15.
The sensitivity report also includes information about the slack of each constraint. The slack is the amount by which a resource can change without affecting the optimal solution. The shadow price is the amount by which the optimal solution will change if the resource's availability changes by one unit.
To summarize, the sensitivity report is an essential tool for companies as it allows them to evaluate the impact of changes in demand, resource availability, and cost on their optimal solution.
Learn more about the total cost: https://brainly.com/question/31228347
#SPJ11
________ refers to continually adjusting prices to reflect changes in supply and demand.
Answers
Dynamic pricing
Explanation:
found it on quizlet
Which of the following is an example of the limited role of government in the economy
Answers
Answer:
the creation of privately-owned businesses
Explanation:
What you think the impact on society is for the ones making the pencils
Answers
Answer:
The impact was how many trees were being cut down.
Explanation:
People eyes were opened to how many trees were being used and programs were started for tree conservation. We now have mechanical pencils which use no wood at all. This dramatically cut down the usage of trees and got people's eyes opened to the shortage in trees. Graphite and the wooden holders.
Answer:
I think that it made business even easier by making them able to write easily.
Explanation:
Pencil was made to mark and write things, it could be used for counting or calculating during the time without technology. It could be used for writing on paper and then to turn it in.
Justify the statement, business is important human activity
Answers
Answer:
Actions that involve the production, distributionand consumption of goods and services at all levels within a society. Gross domestic product or GDP is one way of assessing economic activity, and the degree of current economic activity and forecasts for its future level can significantly impactbusiness activity and profits, as well as inflationand interest rates.The economic activity in the region was being analyzed by our team and we had concluded it would be great to enter the market.
There was some new economic activity going on in the area and it made me excited at the thought of new activities and opportunities.
You should try and follow all of the economic activity so that you know how it might affect your business.
Explanation:
Business is an important human activity that has allowed humans to survive better because it:
allows people access to goods and services - thanks to business, people are able to trade goods that they have for goods that they want thereby ensuring that human needs and wants are satisfiedis a source of income - engaging in business allows people to earn money that they can use to get things that they want either as employees or as owners.For these two main reasons, we can conclude that business is important because the satisfaction of human needs and wants is paramount to the survival of our species.
Find out more at https://brainly.com/question/18117587.
.An advantage of one-way communication over two-way is the fact that
A-fewer mistakes or problems are likely to arise as work progresses.
B-the receiver is more likely to understand what to do with the message.
C-feedback allows for suggestions and modifications.
D-communication is faster and easier.
E-it is more accurate communication that ensures clarity.
Answers
D-communication is faster and easier. One-way communication is a type of communication in which information flows in only one direction, from the sender to the receiver.
This type of communication is often used to provide information or instructions to a large group of people or to convey a message that does not require feedback or discussion.
One of the advantages of one-way communication over two-way communication is that it is faster and easier. Because there is no feedback loop, the sender can communicate the message quickly and efficiently, without having to wait for a response from the receiver. This can be especially important in situations where time is of the essence, such as in emergency situations or when there is a need to quickly disseminate information to a large group of people.
Learn more about communication here:
https://brainly.com/question/22558440
#SPJ11
What is the order of the subtotals that appear on a multi-step income statement?.
Answers
The amount of gross profit is the first subtotal. The quantity of operating income makes up the second subtotal.
What is a multi-step income statement ?
An organization's financial statement in a structure that presents revenues, costs, and expenses for a certain reporting period is known as a multi step income statement. It uses a number of formulae to calculate a company's net income and offers a more thorough description of expenses than a single-step income statement.
To learn more about multi-step income click:
https://brainly.com/question/17650113
#SPJ4
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
A state licensing fee on sales of medical devices causes the supply curve for one type of device to shift from S1 (without the fee) to S2 (with the fee). The fee is based on number of units sold and therefore works like a per-item tax paid by sellers. Use the area tool to draw the area representing the state's monthly revenue from the licensing fee for this one type of device.
Answers
Answer: hello your question is incomplete attached below is the complete question
answer ; Government revenue from tax = $750,000 per month
Explanation:
Attached below is the required graph
Government revenue from tax ( per month )
= ( 450 - 30 ) ( 50 - 0 )
= $750,000 per month
one of the keys to following your carrer path is to be _
like honestly i dont need the answer but if you answer it ill give you 15 brainliest bcuz im in a good mood:) the first one to answer will get the brainliests!! good luck
Answers
Answer:
diligent I guess
Explanation:
i don't know just putting a word that sounds *smart*
which republicans voted for debt ceiling
Answers
Answer:
John Barrasso of Wyoming, Roy Blunt of Missouri, Susan Collins of Maine, John Cornyn of Texas, Mitch McConnell of Kentucky, Shelley Moore Capito of West Virginia, Lisa Murkowski of Alaska, Rob Portman of Ohio, Mike Rounds of South Dakota, Richard Shelby of Alabama, and John Thune of South Dakota.
An _______ is an activity to get you thinking about your project including your role, the challenge and objectives. Question 4 options: obstacle course benchmark hour nap entry event
Answers
Answer:
obstacle course
Explanation:
An obstacle course helps your mind to focus on your project or activities and gets your thought process going.
One of the best methods for understanding a company's policies and procedures is
asking coworkers questions.
doing what you think is best.
checking in with a supervisor.
emailing the company president
Answers
Answer:c
Explanation:
for edg 2020 exam
For understanding company's policies and procedures, the best method is to check with the supervisor. Option (c) is correct.
What are Policies?A purposeful set of rules designed to direct behavior and produce logical results is called a policy. A policy is a declaration of intent that is carried out through a method or protocol. Typically, a governance board inside a company adopts.
Workplace efficiency is improved through company rules and practices. They guarantee consistency, equity, and adherence to US labor regulations. Additionally, policies inform your staff of what is and is not tolerated. Additionally, they enhance the workplace environment for all employees by reflecting the values of your business.
Therefore Option (c) is correct. The best methods for understanding a company's policies and procedures is checking in with a supervisor.
Learn more about Policies, here;
https://brainly.com/question/28024313
#SPJ6
please help me answer these questions
Answers
Answer: See explanation
Explanation:
1. Inelastic demand occurs when a change in price doesn't really have an effect on the quantity of the goods demanded. Examples of products with inelastic demand are salt and prescription drugs.
2. Elasticity for demand helps in the determination of the prices of factors of production. It is also vital in knowing how price changes will affect the revenue of the firm.
3. Normal goods are the goods that when income increases, the demand for them increases as well e.g. household appliances
For inferior goods, when Income increases, their quantity demand reduces. These are common with extremely cheap products.
Hey yall can yall cheer me up for a seek i miss my mommy in she said we was leaving my granny house today in look im still here
Answers
Answer:
Stay Strong!
Explanation:
You got ittt! Cry A Bit , then come back harder! LOVE KEN!!!
If the dollar buys fewer bananas in Honduras than in Guatemala, then traders could make a profit by
a. buying bananas in Honduras and selling them in Guatemala, which would tend to raise the price of bananas in Honduras.
b. buying bananas in Honduras and selling them in Guatemala, which would tend to raise the price of bananas in Guatemala.
c. buying bananas in Guatemala and selling them in Honduras, which would tend to raise the price of bananas in Guatemala.
d. buying bananas in Guatemala and selling them in Honduras, which would tend to raise the price of bananas in Honduras.
Answers
Answer:
The correct answer is C)
Explanation:
Given that the price for bananas is cheaper in Guatemala, suppliers will be driven to make a quick profit just by buying from the Guatemalan market to sell in the Honduras economy.
This, however, will cause the prices of bananas to rise in Guatemala. Because, according to the basic principles of economics, the higher the demand the higher the price.
Cheers!
Underline the two items that are affected.
State whether each item is increasing or decreasing.
1.Sold office machinery for cash
2. Bought motor lorry for cash
3. Sold motor lorry for cash
4. Bought motor van by cheque
5. Bought office furniture by cheque
Answers
2. Increase in machinery (motor lorry) , decrease in cash
3. Decrease motor lorry, increase cash
4. Increase machinery and equipment, increase in accounts payable
5. Increase in office furniture , increase in accounts payable