User Account

All Pages

What is the effect of the errors on expenses

Assignment Help Financial Accounting
Reference no: EM132932270

Problem 1: For the year ending December 31, Orion, Inc. mistakenly omitted adjusting entries for $1,500 of supplies that were used, (2) unearned revenue of $4,200 that was earned, and (3) insurance of $5,000 that expired. For the year ending December 31, what is the effect of these errors on revenues, expenses, and net income?

Reference no: EM132932270

Questions Cloud

Explain major function of a clinical documentation program : Describe one major function of a clinical documentation program... what type of staff work.in this program and whats one financial benefit of an institution
What is programming language : What is a programming language? What are the different types of programming languages? What are the benefits of programming languages?
Characteristics of protostomes and deuterostomes : Compare and contrast at least 3 characteristics of Protostomes and Deuterostomes. (Please answer the question clearly and kinda in detail so I can understand th
Big data and cloud computing by using bibliometrics : Your assessment on whether the United States need to introduce top talents in the field of big data and cloud computing by using bibliometrics.
What is the effect of the errors on expenses : Insurance of $5,000 that expired. For the year ending December 31, what is the effect of these errors on revenues, expenses, and net income?
Produce the entry to record the employer contributions : The Soup Company had made the following entry to record the payroll: ?EI Payable ?324.00. Produce the entry to record the employer contributions
What would be the effect on the year net profit of telemark : As expenses in computing income tax payable for this year, assuming the tax authorities would permit that. What would be the effect on this year's net profit?
Draw a punnett square showing the cross : Draw a Punnett square showing the cross of two F1 offspring. Define the letters that you use in your Punnett square.
How much should Jeremiah report as contract service revenue : Jeremiah sold 1,000 contracts evenly throughout 2020 and 800 contracts evenly throughout 2021. How much should Jeremiah report as contract service revenue

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd