Financial statement, Financial Management

Assignment Help:

Telephone service costs the Eggleston Motor Hotel $250 per week. The business pays its phone service bill on the fifteenth day of each month, but it prepares its financial statements at the end of each month. Which of the following types of adjustments is required to ensure the accuracy of the Eggleston Motor Hotel's financial statements?

Answer

a. a liability/expense adjustment

b. an asset/expense adjustment

c. a liability/revenue adjustment

d. an asset/revenue adjustment


Related Discussions:- Financial statement

Pre-requisites for effective budgetary control system, ORGANISATION FOR BUD...

ORGANISATION FOR BUDGETARY CONTROL (or) PRE-REQUISITES FOR THE INTRODUCTION OF AN EFFECTIVE BUDGETARY CONTROL SYSTEM 1.   BUDGET CENTRE:  It is a section of the organization

Lookback options, Can you describe what the payoffs from lookback options d...

Can you describe what the payoffs from lookback options depend on? Can you write in a concise notation the payoff of a floating lookback call? a. What is the payoff of a portfol

Market mechanism, Market mechanism: Market mechanism is a term from ec...

Market mechanism: Market mechanism is a term from economics denoting to the use of money exchanged by sellers and buyers with an open and understood system of time and value t

Irregular variation in time series analysis, Irregular Variation As the...

Irregular Variation As the name suggests, the movement of the variable is random in nature without consistency and therefore, highly unpredictable. Since this type of irregular

Market value ratios, Market Value Ratios Price-Earnings Ratio ...

Market Value Ratios Price-Earnings Ratio P/E ratio shows how much investors are willing to pay for earnings per share of the company. Market-to-Bo

Determine the operating profit of the firm, 1. The Gulf had sales of  AED 2...

1. The Gulf had sales of  AED 20,000,000 and cost of goods sold of  AED 10,250,000. Selling and administrative expenses represented 8 percent of sales. Depreciation was 5 percent o

Show the sales forecasting, A niche market targets a well-defined and speci...

A niche market targets a well-defined and specific market segment. Firms that operate in niche markets will therefore cater for the precise and distinct needs of their customers. D

What do you mean by pension funds, What do you mean by pension funds? ...

What do you mean by pension funds? Pension funds: Pension funds give retirement income (as the form of annuities) to workers covered through a pension plan. They get cont

Strategic management, Develop and implement strategic plan using bounce fit...

Develop and implement strategic plan using bounce fitness as case study

What are the coupon bonds security instruments, What are the coupon bonds s...

What are the coupon bonds security instruments? Coupon bonds are contractual agreements by the borrowers to make regular payments (known as coupons or interest) until a specifi

Write Your Message!

Captcha
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!

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