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Monica [59]
1 year ago
6

The accountant for Watson Electrical Repair, Inc. failed to make an adjusting entry to record $5,000 of unpaid salaries for the

last two weeks of the year. Which of the following statements is true? Select one: A. The total expenses will be overstated. B. The total expenses will be understated. C. The total revenue will be understated. D. The total revenue will be overstated.
Business
1 answer:
Mila [183]1 year ago
7 0

Answer:

B. The total expenses will be understated

Explanation:

The adjusting entry is as follows

Wages expense $5,000

        To Wages payable $5,000

(Being the wages expense is adjusted)

The wages expense should be debited as it increased the expenses while at the same time the wages payable should be credited as it also increased the liabilities account

Since this above adjusting entry of unpaid salaries for $5,000 is failed to recorded due to which the total expenses will be understated instead of overstated

Hence, the correct option is B.

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Carryon Company sells a product and a 12-month service package for that for a combined price of $800. Separately, the product an
anzhelika [568]

The part of the combined price allocated to the product is less than 50% which might be around 35-40%.

<u>Explanation:</u>

Since the price of the product all alone is $450 and the price of the service alone is $550, so the combined amount totals up to be nothing less than $1000. But the company under the discount and offer, offers the both things combined for $800.

This shows that the company is under some loss which it has to incur. The loss is of $200 under the discount to be offered to the clients which serves as the incentive to the customers.

3 0
1 year ago
Water is flowing in a trapezoidal channel at a rate of Q 5 20 m3/s. The critical depth y for such a channel must satisfy the equ
irina1246 [14]

Answer / Explanation:

Kindly note that the question is incomplete. However, kindly find the complete question below and the answer.

Complete Question

Water is flowing in a trapezoidal channel at a rate of Q=20m³/s . The critical depth y for such a channel must satisfy the equation:

0 = 1 − Q² / gA³c . B Where g= 9.81m /s²  and Ac = the cross-section area can be related to depth y by B = 3+y and Ac = 3y+y²/2. Solve for the critical depth using (a). the graphical method,

Answer:

Given the equation,

0 = 1 − Q² / gA³c. B

Now substituting the given value g= 9.81m /s² , Q =20m³/s, B = 3+y, and Ac = 3y+y²/2,

We get:

0 = 1 - 20² / (9.81) ( 3y + y²/2)³ (3+y)

Hence we choose f(y) =  1 - 40.7747 / (3y + y²/2)³ . (3 + y) and solve for f(y) = 0

Therefore,

To solve using a graph, we take twelve sample points ( starting at y = 0.25 in step of 0.25m and plot a graph using MS- Excel. Kindly find the graph below.

2) As evident from the sample point and the graph function f(y) gets close to zero at y = 1.5, hence the root of f(y) = 0 is Xr = 1.5

6 0
1 year ago
If average annual income for all workers is $37,000 and a person with a bachelor’s degree can expect to earn 32 percent more tha
lukranit [14]

Answer:

 $48,840.00  

Explanation:

If the average  income is $37,000  

A graduate expects to earn 32% above average.

The graduate will earn $37,000 +( 32% of $37,000)

=$37,000 +(32/100 + 37,000)

=$37,000 +  $11,840.00  

= $48,840.00                                                        

 

                           

4 0
1 year ago
Karma Company has prepared its operating budget for the first quarter of 20x9. The company forecasts sales of $50,000 in Februar
Shtirlitz [24]

Answer:

The correct solution is "38,500".

Explanation:

The given values are:

Sales in February,

= $50,000

Sales in March,

= $60,000

Sales in April,

= $70,000

Now,

The total selling and administrative expenses for the month of February will be:

=  Variable \ costs + Fixed \ cos ts

On substituting the values, we get

=  50,000\times (40 \ percent+5 \ percent) + (8,00 0+5,000+1,200+800+1,000)

=  20000+2500+8000+5000+1200+800+1000

=  38,500

4 0
1 year ago
For the next 2 questions, use the financials of Acme Corporation. After adjusting revenue for accounts receivable and deferred r
Mekhanik [1.2K]

Answer: B. $892.1 million

Explanation:

The Revenue was $939,393 million

When calculating how much cash was generated any increase to the Accounts Receivables is removed from the revenue because it signifies that more sales were made on credit and so have not given the business cash yet.

Any increase in Deferred Revenue must be added because this is Cash that has been given to the business but for accrual purposes cannot be recognized yet. Bottomline however, the Cash has been received.

Increase in Receivables = 309,196 - 221,504

= $87,692 million

Increase in Deferred Revenue= 374,730 - 334,358

= $40,372 million

The Cash generated is therefore;

= 939,393 - 87,692 + 40,372

= $892,073

= $892.1 million

I have attached the Financial Statements of Acme Corporation.

6 0
1 year ago
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